In a Chapter 7 bankruptcy, you can walk away from unsecured debt, such as credit card balances. But if your house secures those debts, you are stuck with paying them. If you can't make the payments, you can lose the house to foreclosure, and you won't see a dime of the sale proceeds until all the creditors are paid. It might be better to tap other sources of money: savings, one's 401(k) or individual retirement account, or stocks and bonds.