How long will my bankruptcy remain on my file? 25 Answers as of June 03, 2013I filed for bankruptcy a few years ago and it is still showing up on my public records. It is also making it difficult to build my credit score again. Is there any way I could speed up the process of getting this removed from my record?
CONSUMER PROTECTION ASSISTANCE COALITION, INC. (DE). | Gary Lee Lane
That would be 10 years.
Answer Applies to: California
Cartwright Law Firm | Andrea Cartwight
A chapter 7 will remain on your credit profile for 10 years from the date of filing. While a chapter 13 will remain of your credit profile 6 years from the date of discharge. There is no way you can reduce this time period because it is determine by law. However, there are ways to rebuild your credit after bankruptcy. It is important that you maintain paying your bills on a timely basis. If you have a moretgage or car payment, make sure these accounts are never late. Getting a secured credit card with a credit union will also help rebuild your credit. Never exceed your credit limit and do not use more than 50% of the availble balance.
Answer Applies to: Michigan
Law Offices of Daniel Moulton | Daniel Moulton
The general rule is that a bankruptcy will stay on your record for 7-10 years, but credit can be re-established immediately after the bankruptcy. You may wish to consult with an expert on clearing up credit reports.
Answer Applies to: Illinois
Law Offices of Sheryl S. Graf | Sheryl S. Graf
Although a bankruptcy filing remains on your credit record for up to ten years, many creditors disregard bankruptcy after five years. In a short time, you can probably rebuild your credit to the point that you won't be turned down for a major credit card or loan. Most major creditors look for steady employment and an ability to repay. If you can establish a history of making and paying for purchases on credit since bankruptcy, you are well on your way to rebuilding your credit rating. Ways to establish credit include getting a secured credit card (line of credit is based on the amount of money on deposit in your savings account), taking out a loan with a relative or friend as cosigner, and setting up a payment schedule for purchase of items with a local merchant (i.e., jewelry, furniture, or appliance store).
Answer Applies to: California
Law Office of J. Thomas Black, P.C. | J. Thomas Black
The filing of a chapter 7 bankruptcy can show on public records for 10 years from the date it was filed. For chapter 13's, the credit bureaus report it for 7 years from the date filed. There is no legal way to have it removed, if it is accurate. You should not be having that much of a problem rebuilding your score, if your discharged debts are reporting properly, and if you are paying any remaining or new debts on time. Many of my clients can get into the mid-600's credit score after one year, and 700 or more after two years. You should obtain your free credit reports once per year at www.annualcreditreport.com and dispute any inaccurate information. For example, the debts discharged in bankruptcy should read as a zero balance, with a notation that they were discharged in bankruptcy.
Answer Applies to: Texas
Law Office of Maureen O' Malley | Maureen O'Malley
It remains of record for 10 years. If you kept a car or house and paid on time, get a statement from your lender(s) for each year you were in good standing and have that added to your credit report. You could get a secured card (one w/o up-front fees) and pay it off monthly. You could try the same with a gas card. But don't make a lot of applications because that will hurt, too.
Answer Applies to: Virginia
Colorado Legal Solutions | Stephen Harkess
Bankruptcy will show up on your credit report for up to 10 years. Like everything else on your report (good and bad) the further in the past it is, the less effect it has on your credit score. Every day your bankruptcy filing is further behind you. Every day, your credit improves as a result.
Answer Applies to: Colorado