It may not be the only answer, but it may be a feasible answer.   It depends on how many other debts you have and can you pay for the necessities of every day life with what you have, utilities, gas, etc.?  If the only problem you are facing at present is the one card, perhaps they will work with you as is the mortgage company.  I would suggest that you talk with a bankruptcy attorney who can get more in depth information to see where you need to go.