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Chapter 13 bankruptcy

One of two types of consumer bankruptcy. In a Chapter 13 bankruptcy the debtor is allowed an extended time (usually 3-5 years) to repay part or all of the outstanding debts, and is allowed to keep their assets. This type of bankruptcy remains on a personal credit report for 7 years.


Previous Credit Report Term: Chapter 12 Bankruptcy

Next Credit Report Term: Chapter 7 bankruptcy

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