The Law Offices of Gregory S Hood

How long does bankruptcy last?   Typically, a Chapter 7 bankruptcy will have a very adverse effect on your credit score. The good news is that a Chapter 7 ordinarily does not take more than 6 months to complete, and usually only 90 days. Afterward your income to debt ratio is almost certainly much improved and you can start to re-establish your credit sooner. Having a house payment or installment payment (e.g. car) that is reported to credit bureaus. For the most part a bankruptcy is a bankruptcy and as long as it is still open your ability to obtain credit will be much harder. Consequently, a Chapter 13 which lasts from 3 to 5 years will likely inhibit your ability to obtain credit for the entire time your case is open. Will filing for Bankruptcy adversley effect my credit? There is only one simple answer:  Yes.  But you can re-establish your credit by most experts accounts within 2-5 years if you make a concerted effort to do so.