How long does a bankruptcy stay on your credit report?
Posted on December 9th, 2006 by Financial Diva
If you have had to declare personal bankruptcy, be aware that it will stay on your credit report for ten years, meaning you will have a hard time (if you are successful at all) of getting a loan, especially early in those ten years. In perspective, negative aspects of your credit report only stay for seven years.
What can you do in the meantime? Pay down any of your high balances you currently owe. Ensure you make your payments on time. And cancel any unused credit cards you have so that it doesn’t appear as though you have too much credit available when you apply.
Filed under: Bankruptcy
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