bancruptcy and the length of the affects?

Question

ok, it has been nearly 7 years since i've filed bancruptcy.
I have heard everything from 7 to 10 to 11 years it takes for it to drop off your record, it seems everyone has different answers.
As well when you get your credit report it lists every single company or thing you filed on, are those individual filings staying on as well? or can they possably fall off and just the bancruptcy stays on?
Would it be prudent to contact one of the reporting agengies after the 7 year period and ask these kinds of questions? or should just let sleeping dogs lay. thanks in advance.

Answer 1

Here is the exact answer. If you filed a Chapter 7 BK, then it stays on your credit report for 10 years from the date of discharge. On your credit report, look for the letters LAD or DLA. That will be the last activity date of the discharge.

If you filed a Chapter 13, then it stays on your credit report for 7 years from the date of FILING. Note the difference.

Hope that helps.

Answer 2

Most generally it will take the full 10 years. It even states 10 years on the credit report. However, your credit actually starts rebuilding right after you file the bankruptcy. A small loan (even at high interest), a credit card, any little thing helps to re-establish your credit and make it good. They do have to take the bankrutcy off after the 10 years though. I've been through it myself and it takes sometime but you can survive it. Right after mine i applied for a credit card and got it because i had no bills. That helped get the next one and a couple loans. I have excellent credit now.

Answer 3

normal credit stuff will stay on your record for 7 years from the last date it was active.

bankruptcy will stay on your record for 10 years.

check your credit report every year to make sure its accurate.

Answer 4

I would check your report annually to see when the effects start wearing off. Bankruptcy does stay with you for a while, it depends on the country.