HOW LONG DOES A CHAPTER 7 FILING STAYS ON YOUR CREDIT REPORT
The fact that you filed for Chapter 7 bankruptcy can appear on your credit report for as long as 10 years. Thus, filing a bankruptcy petition may affect your ability to obtain credit in the future. Such credit includes credit cards, mortgages, car loans, and business loans that you secure personally. Nonetheless, many people who file bankruptcy are able to re-establish their credit. Many person's credit is actually improved after they file for bankruptcy. Many credit card companies view a recently-discharged debtor as an ideal new customer because they can file for bankruptcy only once every six years.