Posted on
May 27, 2009
at
7:24 am
Specifically, how long does Chapter 7 Bnakruptcy and Chapter 13 Bankruptcy stay on your public records? I am considering my options at this time to find some relief and need to know.
Posted on
May 27, 2009
at
7:28 am
Both Chapters 7 and 13 Bankruptcy remain on a person's credit report for 20 years. Are you convinced that filing bankruptcy is your best debt relief option? What is your situation right now? Do you have mortgage debt, credit card debt or perhaps a combination? I would say that you may want to consider bankruptcy alternatives first considering the negative impact it has on your credit and the emotional stressors that are associated with that process.
Posted on
May 27, 2009
at
8:26 am
Tom Ace, I think you mis-typed there. Bankruptcy stays on
public records for 20 years. It stays on your credit report either 7 years (for Chapter 13) or 10 years (for Chapter 7).
Posted on
May 27, 2009
at
8:41 am
Guru- You are absolutely correct- I did mis-type there thank you for the correction!
Posted on
June 1, 2009
at
2:41 pm
If you can, see if debt settlement or credit counseling would work considering your circumstances. A settled credit card account only stays on your credit report for 7 years from the time the debt was settled, and credit counseling will only be reported on a credit report throughout the duration that you are enrolled in one of their programs. Neither settlement or credit counseling goes on your public records, and as a result the credit impact of both settlement and credit counseling is not as severe and remains a very effective alternative to filing bankruptcy.
