Cognitive behavioral therapy can be thought of as a combination of psychotherapy and behavioral therapy. Psychotherapy emphasizes the importance of the personal meaning we place on things and how thinking patterns begin in childhood.
Bankruptcy will ruin your credit for some time to come. A Chapter 7 bankruptcy can remain on your credit report for up to 10 years. Although a bankruptcy stays on your record for years, the time to complete the bankruptcy process under Chapter 7, from filing to relief from debt, takes only about 3-6 months. If you decide against Chapter 7 when it may be the right decision for you, your missed debt payments, defaults, repossessions, and lawsuits will also hurt your credit, and may be more complicated to explain to a future lender than bankruptcy.
Read on to learn more about life after Chapter 13 bankruptcy. For an overview of how Chapter 13 bankruptcy works, see our Chapter 13 Bankruptcy topic area. How Long Does Chapter 13 Bankruptcy Stay on Your Credit Report? According to the Fair Credit Reporting Act, a bankruptcy can only remain on your credit for up to ten years after your filing date. However, a Chapter 13 bankruptcy will typically be removed from your credit report after seven years. Keep in mind that the clock starts running when you file your case, not when you receive your discharge. Since most Chapter 13 bankruptcies last three to five years, chances are your Chapter 13 will only appear on your credit report for another two to four years after completing it. Can You Obtain Credit During or After Chapter 13 Bankruptcy?