Collection process

Hello,

My wife's friend borrowed my wife's credit to borrow money and leased a car.
And she(My wife's friend) setup an automatic payment from her bank so my wife ok it.
Suddenly We've got a call from the collection agency that she hasn't paid for 90 days in other words no money on her bank account.
My wife was trying to contact her but can't reach or find her.
The money she borrowed was $100,000 for 5 years and 2 years remained and she leased BMW for 42 months and 9 months remained.
We have no house and no way to pay this.
What is my option ?
Is Chapter 7 bankrupcy an option and am I responsible for this dept too as a husband ?
How much it usally cost to file Chapter 7 including attorney fee?
If she has to file Chapter 7 then do I have to file it with her ?

Thanks for your help in advance.

[annjd]

You may want to sue her, try to get the car back, and have it sold so that the issue will be resolved, even if you do lose some money.

Why did your wife do that in the first place? These co-sign matters are a disaster more times than not.