Originally Posted by Wagerboy

Actually, thats not true. a 13 is on your credit for 7 years. a 7 is 10 years. and yes sir, that does mean you have bad credit. To be honest the credit reports look at it 2 ways. If you were sloppy before the filing, your gonna get hammered for years after. if you were rock solid before, it repairs itself as you build tradelines in the future. Ive seen 300 scores 1 month after a bk, and ive seen high 600's 1 month after a bk.

As far as it just being reported, again not true. try to get a store card or a personal loan 5 years after a bk. not gonna happen. capital one will give ya a $1000 limit or something at best. But big purchases such as cars and homes really arent effected but the big interest rate is. I speak on experience in the US.