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We practice law only in California and each state's laws are different. You should immediately contact a local experienced attorney in your town or state. Here's a general overview regarding personal injury damages…
I would suggest that you contact the bank and schedule an appointment to sit down and go over your situation with them. Let them know that if they are unable to “work with you” you will be required to file bankruptcy. A reduction of amount owed, lower interest rates and/or both may be possible.
In the alternative, you may want to consult with a good bankruptcy attorney. Check AVVO for one in your area. Or, go to www.Martindale.com and search for an AV rated bankruptcy attorney in your area.
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Jon Mitchell "Mitch" Jackson
Jackson & Wilson, Inc.
An "AV" rated firm listed in Martindale-Hubbell's Bar Register of Preeminent Lawyers