Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Bankruptcy or Ignore? - Ok, so I am looking at filing bankruptcy on unsecured debt (credit cards) to the tune of about $45,000. I do have a foreclosed house I had with my ex husband for $350,000. All of the cards are gone, all my payment options are gone. I changed all my phone numbers and only get the occasional piece of mail. My question is this.... since charged off credit (individually) stays on the credit report for 7 years, and bankruptcy (all of it) stays on the report for 7 years....