Learn · Credit glossary
What Is Bankruptcy chapter 13 in Credit? Definition and Why It Matters
Bankruptcy chapter 13: the short version
In credit, bankruptcy chapter 13 is a repayment-plan bankruptcy over three to five years.
Why it matters
It reports for seven years from filing.
An example
Say you review your reports and run into bankruptcy chapter 13 for the first time. Check how it appears on each bureau, note the dates, and use the resources below before deciding what to do; small misunderstandings about bankruptcy chapter 13 cause many avoidable mistakes.
Keep reading
Related guide or tool · Full credit and legal glossary · All academy lessons
Want guided help? Caleb Saunders is an independent member with FreedomPath, a financial-services company. Work with Caleb through FreedomPath (external link - opens his member page on freedompath.com)
Educational information only. Not financial, legal or credit-repair advice, and no outcome is promised. Verify current rules with the official sources linked below before acting.
Official sources: annualcreditreport.com (free weekly reports), consumerfinance.gov, ftc.gov.