How Long Will A Bankruptcy Stay On My Credit Report?

A record of your bankruptcy filing may remain on your credit report for up to 10 years depending on the credit reporting bureau.

Fortunately, your credit report indicates which debts were discharged in your bankruptcy, and reports them as a zero balance and uncollectible by your creditors.

A bankruptcy listing on your credit report does not mean that you will not be able to obtain credit for 10 years. In fact, credit is often available immediately after receiving a discharge in a bankruptcy and your credit risk may even be reduced by filing bankruptcy. Perspective lenders see that you have had some financial problems in the past, but also see that your debt-to-income ratio, a calculation showing how much your fixed monthly payments are in relation to your income, has improved substantially. Creditors like to see a larger gap between the amount of payments you make each month and your income, as it indicates that you have greater disposable income and are less of a credit risk.