How long does bankruptcy stay on my credit report?
There is a lot of confusion regarding this issue. If you ask a professional this question, you’re likely to receive several different answers. The law is actually very clear. Credit reporting agencies must remove bankruptcy information from your credit report 10 years from the date your case was filed. The law doesn’t distinguish between Chapter 7 and Chapter 13. However, many credit counselors will tell you that credit reporting bureaus have an unofficial policy of removing Chapter 13 filing information from your credit report after seven years.
There’s also confusion over when the ten year period begins. Some say the information must be removed ten years after the date of the discharge. However, the United States Bankruptcy Code makes clear that the ten year period begins from the date of filing, not the date of discharge.
Therefore, information about your bankruptcy must be removed from your credit report no later than ten years after the date you filed bankruptcy. For example, if you filed bankruptcy on June 30, 2000, the bankruptcy must be removed from your credit report no later than June 29, 2010.