What are the different types of bankruptcy and how is each considered by my FICO score?

A bankruptcy is considered a very negative event by your FICO® 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 11 and 7 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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