7-10 years after bankruptcy Q?

It definitely DOES drop off your credit report - but it does take 10 years.

As soon as you can after your bankruptcy is filed, open a "secured" credit card - in other words, you give the company a set amount of money (usually $500-$1000), and they give you a credit card with the same limit as the amount of money you sent them. Start rebuilding your credit that way, and before long, you'll have good credit again.

Bankruptcy filing stays in the credit report. Therefore a person with past bankruptcy record cannot hide the fact. However, the debt is totally discharged after the bankruptcy period.

It depends on how the agency calculate the credit score. I guess bankruptcy filing may affect credit score even after 7-10 years or longer.

Bankruptcy discharges the debt but does NOT remove the item from your credit report. Individual derogatory accounts age off your credit report 7-1/2 years from the date of first deficiency, even if the debt is included in the bankruptcy.

The bankruptcy itself ages off your credit report in 10 years for chapter 7 and 7 years for chapter 13.

The older an item, the less impact on your score. By the time derogatory items or bankruptcy get to the end of the reporting period, it has very little impact on your score. When the item does age off you probably won't see any increase in your score.

While the bankruptcy does age off your credit report, it NEVER goes away. Just about every credit application and many job applications ask the question "have you every filed bankruptcy". So yes, bankruptcy will continue to count against you.

Contrary to what Marcthyme says, after 7 to 10 years depending on the type of bankruptcy it does drop off of your credit report. The debt that is wiped out is immediately stopped from reporting on your credit report. Although anything prior to that time will stay on for 3 years.

The "7-10 year" thing is a paperwork deal...the debt NEVER "goes away", even though someone selling you bankruptcy might want to fool you into thinking that!

Imagine I owe you $15,000, but I go out of business & file for bankruptcy protection, and the Court awards you $1,500 cash out of my liquidated assets.....you just lost $13,500! Ten years from now, will you have "forgotten all about that" because the Court says my bankruptcy is "discharged"?

My guess is "probably not"!

Bankruptcy will follow you to your grave.