Bankruptcy Q & A

Hello Mike,
I have a question about bankruptcies. I have a bankruptcy on my credit reports, it is a Chapter 13. I have been told different things about how long it will be on my credit report. I have been told it will be on there for 7 years and I have been told it will be on there for 11 years. Which is it?

Lorena Ochoa

Hi Lorena,
A chapter 13 bankruptcy stays on your credit report for 7 years from file date. There are two common bankruptcies filed currently. The two are Chapter 7 and Chapter 13.Chapter 7 bankruptcy will be on your credit report for 10 years from file date. You will need to watch your credit report closely, because its common that the bureaus don’t remove bankruptcies like they should once the expired date has hit.

Mike Clover

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