What happens to my credit score after filing for Chapter 13 bankruptcy?

Asked 3 months ago
When an individual files for Chapter 13 bankruptcy, their credit score will be affected in several ways. Initially, it is important to understand that bankruptcy filings, including Chapter 13, can lead to a significant drop in a person’s credit score. This is due to the fact that a bankruptcy is viewed as a serious negative event in the eyes of credit score algorithms. Typically, individuals may see a decrease of anywhere from seventy to one hundred and fifty points, depending on their previous credit history and current financial situation. However, it is also important to note that the impact of Chapter 13 bankruptcy on a credit score may not be permanent. Chapter 13 bankruptcy involves a repayment plan, which shows creditors that the individual is making a concerted effort to pay back their debts over a period of three to five years. Successfully completing the repayment plan can have a positive effect on one’s credit score over time, as it demonstrates responsibility and a willingness to fulfill obligations. Furthermore, as the individual begins to rebuild their credit, it could be beneficial to make on-time payments for existing debts, keep credit utilization low, and monitor their credit report for accuracy. While the bankruptcy will remain on a credit report for seven years, the individual can work towards improving their credit score during this time. For further information on credit reporting and how it relates to Chapter 13 bankruptcy, interested individuals may refer to the relevant section on the official Chapter 13 Office of North Carolina webpage.
Christian Allen is the editor / author responsible for this content.
Answered Aug 26, 2025

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