How long will bankruptcy stay on my credit? 19 Answers as of January 19, 2011

10 years currently.

It can be reported on a credit report for 7 years.

No that's not true.

Bankruptcy stays on your credit for ten years. The debts that were discharged in your bankruptcy stay for seven years.

However, that does not mean you have to go seven years with bad credit. You can build back to a good credit score in about three years. (Filing bankruptcy quickly when your credit goes bad shortens that a little.)

Many people are able to buy a house at a good interest rate as soon as two years after a bankruptcy is discharged.

Nope, bankruptcy stays on your credit report for 10 years. With good moves, you can have average credit again after just 2 years, though. A good lawyer will help you rehabilitate your credit after the bankruptcy, in addition to doing the case correctly.

The credit bureaus will report your bankruptcy case in your credit report for 10 years if you file a Chapter 7 case and 7 years if you file a Chapter 13 case. I am not aware of any new law that reduces that to two years. That does not mean you cannot obtain credit after a bankruptcy. You can start rebuilding your credit immediately after obtainin a discharge of your debts. Most Chapter 7 cases end in about three months. Chapter 13 cases require some payment in a Chapter 13 Plan that can last from three to five years. You cannot use credit while in Chapter 13 without permission from the trustee and maybe the court. Therefore, you cannot start rebuilding your credit history until your make all the payments and receive a Chapter 13 discharge. You will have no problem getting credit after bankruptcy so long as your income is adequate although the interest rate will be lot higher and the credit limits lower at the beginning until you demonstrate that you are a good credit risk. Since you cannot file a Chapter 7 case again for 8 years and you will be debt free after the discharge, some lenders will consider you a better credit risk after bankruptcy.

10 years from the date your case is filed.

It depends but most bankruptcies stay on your credit report for 7 to 10 years.

Disclaimer: The response above does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice.

10 years.

Bankruptcy will stay on your credit for 7-10 years.

It will be on your credit report for 10 years. That does not mean you can not rehabilitate your credit in a shorter period of time. If you have good income and make payments on things like your home or vehicles on time, you will establish a new good credit history.

It stays on your credit report for 10 years.

10 years.

From 7 to 10 years. But you can start reestablishing shortly after a successful discharge.