I have filed Chapter 7 that was discharged in oct 11, so my credit is still not good. My wife’s credit is good, around 800. We still have a few issues we are dealing with regarding banks, one the FDIC that took over a bank We are hoping to work something out so she does not have to file BK. We have some business financing we will need shortly on a new business venture that has a great return and 2 stores that already produce income. They would not be affected by the BK. Timing is everything for us. The amount that may force her into BK is a $29K note we had to take in a deed in leiu and $75K from FDIC to give back some property. It may be that 100K is not worth filing BK over and we hope to work something out.
Question one is if she had to file BK how much of a score drop would she have. She has never had a late pay or anything on public record. She has about 600K of debt on her credit report 99% is mortgage debt, a little student loan debt and really no cc debt?
any response would help. Thanks.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.How Much of a Hit Will Out Credit Score Take When We File Bankruptcy? - Larry by Steve Rhode