How Long Does Bankruptcy Stay on My Credit History?

 

Have you recently been through bankruptcy, or are you considering filing for one? If so, you may be wondering how long a bankruptcy will stay on your credit history and if there is anything you can do to reduce the time it remains. Well, the answer is complicated, but our best lawyer to declare bankruptcy does have some answers. Let’s talk about the specifics of this issue.  

Bankruptcy Types and Length of Stay on Credit Reports 

The type of bankruptcy you file impacts how long it will stay on your credit report. A Chapter 7 bankruptcy will typically remain on your credit report for 10 years after the date of filing, while a Chapter 13 bankruptcy will usually remain for seven years after filing. In both cases, these removals are done automatically, so you don’t need to initiate any kind of removal process yourself.  

Can Bankruptcy Be Removed from My Credit More Quickly? 

If you notice any incorrect information or omissions on your credit report related to the bankruptcy, you can dispute those items with these three bureaus to get them removed or corrected. 

• Experian® 
• Equifax® 
• TransUnion® 
• 
  

This could lead to faster removal of the bankruptcy filing from your credit report. 

Rebuilding Credit After Bankruptcy 

It’s important to remember that the negative effects of bankruptcy don’t last forever — it’s possible to rebuild your credit after you’ve gone through this process. To do so, focus on paying all bills on time and keeping your credit utilization ratio low. You can also get a co-signer or ask a family member with good credit if you can become an authorized user. 

What Do I Do Now? 

If you would like more information on how long bankruptcy stays on your credit history, or if you need any advice on the best way to handle your debt situation, contact your local bankruptcy attorneys today for more assistance. 

 

Lewis and Jurnovoy is a local law office serving the Florida Panhandle. We specialize in bankruptcy law, including Chapter 7 and Chapter 13 bankruptcy. We will work to achieve the best financial remedy for your outstanding debts. 

Lewis & Jurnovoy PCB 
2714 West 15th St 
Panama City, FL 32401 
(850) 913-9110 
https://www.LewisandJurnovoy.com