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How Long Will Bankruptcies & Foreclosures Stay On Your Credit?

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How Long will bankruptcies and foreclosures stay on your credit report and what loan options are there?



A previous bankruptcy can remain in a credit file for seven to 10 years.


Depending on when the bankruptcy was discharged and what kind of credit a borrower has reestablished since then, it needn't be an obstacle to obtaining loan approval.

The longer ago the discharge occurred, the better off a loan applicant will be. Many lenders also will take into account the circumstances surrounding a bankruptcy.