It is 10 years and one can get an auto loan in less than a year if they understand how the mechanisms work. The over-reliance on credit score can be used to a bankruptcy filers advantage if they are careful. A bankruptcy usually take a 60 to 100 point hit on ones credit, not at all devastating. The problem is that most people wait to file after they have missed several payments which, each take a toll, on an individuals credit score. If one files at the first sign of trouble, can hold out making payments until the filing and immediately gets a secured credit card after the fact they can repair the damage in a little as a year. You will pay at least a point hire interest for the 10 years it is on your credit.<p>As well, with so much flight from underwater homes I would not be surprised to see the government enact some form of credit forgiveness once the wreckage is cleared and we are recovering. We have to get all of these consumers back to consuming or our consumer based economy will not survive. Both the corporations and the government are in favor of happy consumers who are pacified by their consumption so they will be extremely interested it lighting that economic "engine" again.