Chapter 7 stays with you for 10 years. Chapter 13 is 5-7. I had to file Chapter 13 in 2007 I made my last payment in Feb of 2012. By October of 2012 the Chapter 13 was completly off my credit as if it had never been there. This also happened to another person I know who paid off their 13 and within 6 months it was off all their reports. My father filed Chapter 7 a year after I did my 13 and his Chapter 7 is still on his reports and I have 2 other friends who did a 7 and theirs is lasting the full 10 years. I'd rather suck it up and make the payments so that it didn't stay on my credit for the full 10 years.
I was able to buy a house and everything, my credit bounced back and I have no sub prime cards. It was worth it for those few years of struggling to be where I am now. I put myself in that position and I am making sure now I never ever put myself back in that position.
