Where do I go Next ???

I have about $60,000 in credit card debt, confused I spoke with my creditor BOA, they will put me on a program sounds great 5 years paid but the payment is double what i can afford. I am current with all other bills, BOA is only 60 days past due. I have a recent lost of income that put me in this spot. I can't sleep at night, my credit was always perfect now all my creditors are lowering my available credit and raising my interest. My concern with dettlement is the 1099 form to the IRS - I would have to claim $30,000 I settled at half. Also the 15% fee they charge you ??? I am stuck and don't know if bankrupcy is my option now?? Any advise would be appreciated. Thanks Lori