Bankruptcy stays on your credit report for different lengths of time depending on the type:
- Chapter 7 bankruptcy remains on your credit report for up to 10 years from the date you file. This type involves liquidation of assets to pay creditors and typically discharges most unsecured debts
- Chapter 13 bankruptcy generally stays on your credit report for 7 years from the filing date. This type involves a court-approved repayment plan over three to five years and usually results in a shorter reporting period because some debts are repaid
After these periods, the bankruptcy record should automatically be removed from your credit report without any action needed on your part
. While bankruptcy negatively impacts your credit score, its effect tends to lessen over time, especially if you work on rebuilding your credit
. In summary:
Bankruptcy Type| Time on Credit Report
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Chapter 7| Up to 10 years
Chapter 13| Up to 7 years
These timelines are counted from the date of the bankruptcy filing, not the discharge or completion date
