How Long Bankruptcy Stays on a Credit Report

Answer:

Occasionally, in a bankruptcy case my client will ask, “How long does the bankruptcy case remain on the credit report?” This is a great question. It’s under federal law. In a Chapter 7 case, the bankruptcy can remain on the credit report for ten years. In a Chapter 13, it can remain on a report for seven years from the date of discharge, which is typically five years down the road, so it’s a total 12-year impact. I tell this to most of my clients, as well— credit is not the beginning and end of the analysis when we consider whether a person should file bankruptcy or not.

If you have any questions about whether bankruptcy might be right for you, please give us a call at Perenich Law Injury Attorneys. We’ve been representing clients throughout the state of Florida and here in the Clearwater area, and we are happy to help. We provide a free consultation.