SuperGroove
This is not your business.It is your parents business.This is obviously a stressful time for them,as well as you. Do not despair. Your parents can tell you more about whats going on than anyone here with only half the information you are able to obtain and post here. Let them explain whats going on to you. There may be more letters,but I'm sure they are not addressed to AnandTech Off Topic Forums. In fact,your name isn't even on it. If you where my child,I would be quite angry you aired our private affairs. Think about it. Is this about you? No.
Get behind your parents. They need your understanding and support. You know that,don't you?
Things will turn out all right. That's what Bankruptcy is for,a fresh new start. Look on the bright side. The debt will be lifted.