The Facts

• A bankruptcy filing will appear on your credit report under "Public Records" and can drop your credit score 100 points or more.
  
  

Time Frame

• Chapter 13 bankruptcies, in which debtors agree to pay what they owe over a set period of time, are removed from your credit report within seven years. Chapter 7 bankruptcies, in which all debts are discharged, will remain on your report for 10 years.
  
  

Dismissed Bankruptcy

• A dismissed bankruptcy occurs when the court terminates your bankruptcy case prior to its discharge. A dismissed bankruptcy can be voluntary or involuntary, but it will remain on your credit report for the same length of time that a discharged bankruptcy will. Dismissing a bankruptcy has no effect on its reporting period.
  
  

Involuntary Bankruptcy

• An involuntary bankruptcy, or one in which a petition is made for payment by your creditors, should be removed from your credit report immediately if the court dismisses it for undue cause.
  
  

Early Removal

• You may petition the credit bureaus for early removal of a bankruptcy at any time, but they are not legally obligated to remove the notation until the reporting period has expired.