A Chapter 7 bankruptcy is the least desirable from a credit standpoint, but you are typically out of bankruptcy in 6 months and you don't have to repay any debt. (hzcu-mortgage.org)
From a credit standpoint, Chapter 7 bankruptcy is the blackest mark you can have on your credit standing. (debtkid.com)
So don't think you'll «fly under the radar» from a credit standpoint if you lived somewhere only briefly or if you pay rent instead of a mortgage. (ebony.com)