Time Frames

• It takes three to five years to fully complete a Chapter 13 repayment plan; the fact that you filed for Chapter 13 will be reflected on your credit reports for seven years from the date of your initial bankruptcy request, notes the United States Bankruptcy Court.
  
  

Considerations

• You can't legally get new credit without court permission while under a Chapter 13 plan. Also, debts such as child support, alimony, tax bills less than three years old and court fines are ineligible for bankruptcy restructuring.
  
  

Potential Costs

• As of 2010, it costs $274 to declare Chapter 13 bankruptcy; also, keep in mind that you can be legally required to forfeit at least part of your tax refunds while in a Chapter 13 plan, according to "How to File for Chapter 7 Bankruptcy."