WHAT ARE THE DIFFERENT TYPES OF BANKRUPTCY AND HOW IS EACH CONSIDERED BY MY CREDIT SCORE?

A bankruptcy is considered a very negative

event by your Credit score regardless of the type.

As long as the bankruptcy is listed on your

credit report, it will be factored into your score.

However, as time passes, the negative impact

of the bankruptcy will lessen. Typically, here is

how long you can expect bankruptcies to remain

on your credit report (from the date filed):

  • Chapter 7 and 11 bankruptcies up to 10 years.

  • Completed Chapter 13 bankruptcies up to 7 years.

Keep in mind that these dates refer to the

public record item associated with filing for

bankruptcy. All of the individual accounts

included in the bankruptcy should be removed

from your credit report after 7 years.




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Chapter 7 and 11 bankruptcies up to 10 years.

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