Hello everyone,
I'm a returning member after being away a while. I experienced a job loss late last year and was out of work almost 4 months. With little to no emergency savings, I lost everything. All of my loans and credit cards defaulted, my car was repossesed, and I was evicted from my rental home. I have since found another well paying job, but my credit scores are now in the mid 400's. With almost $50,000 worth of debt, I'm searching for a good Chapter 7 bankruptcy attorney.
One thing I have never understood is how already low scores are suppressed/increased because of bankruptcy. I believe it's common to lose around 200 points, and the higher the score at the time of bankruptcy the more of a hit you take. But with scores as low as mine, would a chapter 7 make them much worse, and how long after discharge would those scores stay suppressed, assuming I started rebuilding responsibly right away?
Also, with so many accounts showing charged off and in collections, would IIB and zero balance help to increase my scores or would it not make a difference?
Thanks for any advice!
