Here's the basic breakdown of how long different types of information will remain on credit report: Late payments: 7 years. Bankruptcies: 7 years for completed Chapter 13 bankruptcies and 10 years for Chapter 7 bankruptcies.

There are six different types of bankruptcies out of which, Chapter 7 and Chapter 13, are the two personal bankruptcy options available for individuals. In Chapter 7 bankruptcy (liquidation bankruptcy), you will have to pay your entire debt or just a part of your debt with your liquid assets. On the other hand, in Chapter 13 bankruptcy you must rep