Bankruptcy will stay on an individual's credit report for seven to ten years depending on which type of bankruptcy is filed. Chapter 7 will normally be reported for 10 years and Chapter 13 will normally be reported for 7 years.
With Chapter 7 bankruptcy, an individual does not have to pay creditors and all debts are discharged.
With Chapter 13 bankruptcy, an individual repays a portion of their debt to creditors.
