​6. How will bankruptcy affect my credit?

Bankruptcy remains in your credit file for 10 years after filing.  The likelihood of you getting credit in the future is usually determined by your income, your bills or obligations and the amount of time that has expired since you filed bankruptcy.  Depending on your how damaged your credit was before bankruptcy, lenders may consider you less of a credit risk after your bankruptcy.  One thing to note is that you cannot take on additional credit without court approval during the time of your Chapter 13 repayment plan.