How long will a bankruptcy record remain? 23 Answers as of June 29, 2013

I want to build my credit as soon as possible. How long before I can get rid of it?

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
Mercado & Hartung, PLLC
Mercado & Hartung, PLLC | Christopher J. Mercado
A ch 7 last 10yrs. Contact a local attorney for specifics.
Answer Applies to: Washington
Replied: 7/2/2012
Burton Green, Attorney | Burton Green
The bankruptcy remains on your credit report for 10 years. However, you can begin to rebuild your credit immediately after receiving your discharge in the bankruptcy. There are many ways to begin rebuilding credit, such as secured credit cards, department store credit cards, mortgage payments, etc. You just have to be careful that you keep your new accounts current and paid on time. If you miss or are late on a payment you will set your rebuilding program back.
Answer Applies to: Florida
Replied: 6/28/2012
Ross Smith, Attorney at Law
Ross Smith, Attorney at Law | Charles Ross Smith III
A bankruptcy stays on your credit for 10 years. It's serious for 2 years and still a substantial problem for 3 - 4 years. After 2 years you are cleared for FHA, VA and HUD mortgages. Your credit may have actually improved when you filed bankruptcy. Creditors like the fact that you cannot file another Chapter 7 for 8 years. I tell my clients to apply for a local store card and a gas card 60 days after your discharge. Each month you should charge a very small amount on each card and then pay them timely. In a year you should have C- credit. In 2 years you should have B- credit.
Answer Applies to: Ohio
Replied: 6/28/2012
Bankruptcy Law office of Bill Rubendall
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
Bankruptcy stays on your credit report for 10 years. The best ways to re-establish credit is to pay your bills on time and possibly obtain a secured credit card. Your credit score should improve over time.
Answer Applies to: California
Replied: 6/28/2012
Bodow Law Firm PLLC | Ted Araujo
That would be 10 years.
Answer Applies to: New York
Replied: 6/28/2012
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    It will remain on your credit report for 10 years.
    Answer Applies to: New York
    Replied: 6/27/2012
    Olson Law Firm | Edward M Olson
    It does not matter how long the bankruptcy stays on your credit record (that will most likely be about ten years)... to improve your credit score you need a track record of "on time" payments. Focus on making a record of all "on time" payments. Within one year your credit score should be in good shape.
    Answer Applies to: Michigan
    Replied: 6/27/2012
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    Bankruptcies are normally always asked about and are listed for as long as the credit reporting company chooses. Regardless it is possible to rebuild a credit rating.
    Answer Applies to: Michigan
    Replied: 6/27/2012
    R. Jason de Groot, P.A
    R. Jason de Groot, P.A | R. Jason de Groot
    You cannot get a bankruptcy record removed, it is a public record and will remain a public record forever. The credit you get after filing a bankruptcy depends upon the lending practices of the banks you apply for credit with. Since you cannot file bankruptcy again for approximately 7 years, some banks are willing to extend credit to you. I have seen numerous credit cards offered to clients after they have filed bankruptcy for just this reason. You can read more about chapter 7 bankruptcy at my website.
    Answer Applies to: Florida
    Replied: 6/27/2012
    Carballo Law Offices
    Carballo Law Offices | Tony E. Carballo
    You can rebuild your credit as soon as you get your discharge but the record of having filed bankruptcy remains for 10 years if a Chapter 7 and 7 years if a Chapter 13. That does not mean no credit for that period of time. It means a black mark in the credit history but most people filing for bankruptcy already have plenty of bad things in their credit report and the bankruptcy clears the amounts owed and allows faster regaining of credit. In many cases bankruptcy improves the chances of rebuilding the credit history much faster.
    Answer Applies to: California
    Replied: 6/27/2012
    Indianapolis Bankruptcy Law Office of Eric C. Lewis
    Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
    Bankruptcy on your credit report has little to do with rebuilding credit or your ability to get new credit after bankruptcy.
    Answer Applies to: Indiana
    Replied: 6/27/2012
    Attorney At Law | Harry D. Roth
    Your bankruptcy will stay on your credit for 10 years after your discharge. However, getting rid of the report and rebuilding your credit are two entirely separate beasts.
    Answer Applies to: California
    Replied: 6/27/2012
    Law Office of D.L. Drain, P.A.
    Law Office of D.L. Drain, P.A. | Diane L. Drain
    Bankruptcy is on your credit for 10 years. You can rebuild it quickly by keeping current on secured debts (house and car) and/or paying on a secured credit card.
    Answer Applies to: Arizona
    Replied: 6/27/2012
    Alvin Lundgren | Alvin Lundgren
    Bankruptcy is reported on credit records for 10 years.
    Answer Applies to: Utah
    Replied: 6/27/2012
    Weber & Phillips, P.A.
    Weber & Phillips, P.A. | John G. Phillips
    It is a public document and can appear on your credit history for up to 10 years. If you are proactive, you should be able to rebuild your credit and move beyond it within 24 months of filing. Thinks like obtaining a secured credit card or opening other credit lines plus making full and timely payments on debt that survived the bankruptcy will make a huge difference in the score
    Answer Applies to: Arkansas
    Replied: 6/27/2012
    Ryan Legal Services, Inc.
    Ryan Legal Services, Inc. | Kevin Ryan
    A bankruptcy discharge in most cases actually raises your credit score because all open accounts, other than any secured (house or car) debt which you reaffirmed, is reported as zero. Also, all of the late payments and individual negative marks on the credit report pre-bankrutptcy discharge are wiped away. The aggregate of all of these negative marks is what usually kills a person's credit score. A bankruptcy filing is noted on a credit report for 10 years from the date of case filing, and it is given an insignificant amount of points, so filing in and of itself rarely "hurts" your credit score, contrary to popular belief.
    Answer Applies to: Ohio
    Replied: 6/27/2012
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    It is on your record for 10 years, but you can rehabilitate it sooner than that. If have a car payment or mortgage payment you pay on time that will do it. Or get a small secured card and use it wisely, that will help.
    Answer Applies to: California
    Replied: 6/27/2012
Click to View More Answers:
12 3 4 Free Legal QuestionsConnect with a local attorney