How long does chapter 7 stay on your credit report?

Chapter 7 bankruptcy stay on your credit report for 10 years from the date filed. Accounts included in bankruptcy stay on your credit report for 7 years from the date they were reported as included in the bankruptcy.

Do not confuse the credit report time frame (10 years for chapter 7 bankruptcy) with the Statute of Limitations (SOL)
As per the Fair Credit Reporting Act (FCRA), chapter 7 stay on your credit report for 10 years. This clock cannot be restarted.

The Statute of Limitations (SOL), which is the time frame to bring lawsuit, is governed by state laws and has nothing to do with credit reports. The SOL clock restarts to zero every time you take an action with an account, no matter how much time had elapsed before the activity.

Chapter 7 is the worst thing that can happen to your credit reports and scores. However, as with all derogatory items, newer items impact your credit score more than older ones. As times passes, older item effect on credit score diminishes. In fact, up to 70% of your FICO score is determined by negative and positive information from the previous two years.

However, keep in mind that your FICO score doesn’t solely determine your credit standing. Creditors DO look at your actual credit report when considering your request for new credit, so even if a bankruptcy that occurred 6 years ago has a small effect on your FICO score, it may still tip the scale against your approval.

See how-long-do-negative-items-stay-on-my-credit-report for more information.