No. First, all your creditors will have to be included in the bankruptcy, and even if you reaffirm all the others (a terrible idea), they will still close your accounts. Plus a foreclosure has a much larger impact on your credit score than you realize - usually worse than a bankruptcy.
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You need to seek the help of an IL attorney to help you with this matter. There are too many variables to even properly answer this question. Are you employed? Do you want to keep the house and clear up the arrears through a chapter 13 plan? Has the bank already filed a foreclosure complaint? You may want to see if the bank will accept a deed in lieu of foreclosure. That way they won't be able to come after you for the deficiency on the loan. It's really not as cut and dry as what will have less of an impact on my credit report. More importantly, it's what would you like to have happen as your credit is already probably not looking that great. Unfortunately, either way, your credit is going to take a hit. You can minimize how bad of a hit by hiring a competent attorney. Check out NACBA.org for practitioners in your area.
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I’m not sure if this answer is on target, but I would place a possible deficiency judgment being entered against you as a priority, not your credit score. If you have large debts, other than the foreclosure, and you qualify for a chapter 7 bk, I would say file a bk. In alterative, if you only have the foreclosure debt to worry about, and the bank will accept a consent foreclosure (which is voluntary) than I would go for the consent foreclosure. Good Luck.