the mother of a friend of mine (M for ease of posting) is in a bit of a quandry, and considering BK (bankruptcy - not Burger King)

She is in her early 70s, Her current income is about $20k.
M lives in a rental, but owns a house that was purchased a couple years before the Big Drop (and was purchased with most of her *retirement savings*)
House is currently worth about $20k less than owed.
That house is rented out - but there is a delta of about $250/month that M is paying.
M has about $20k of CC debt (at 0-4%) that she is paying down $400 ish/month.
M has spotless credit - credit score over 800, because she has apparently always managed to be ON TIME with her payments. She is averse to filing BK, but does not think she can continue to *keep it up*

Her rental apartment + all expenses comes to about $800/month - very manageable on her current income, which is NOT likely to increase.

This came about because friend was asking M if she needed any financial assistance and should she and her siblings pool together to augment M's income ...
Friend & siblings are NOT keen on paying off M's CC debt, but feel like $250/month to finish the house mortgage (15 more years) is acceptable- and a waste to just *walk away* from it.

WHat else should I caution them to consider while they determine if BK is the correct alternative?

peace & objective options
t