How Long Does a Banruptcy Last

Real Estate Agent with The Real Estate Consulting Group


Here's the answer....

Bankruptcies and foreclosures can remain on a credit report for seven to 10 years.
Some lenders will consider a borrower earlier if they have reestablished good credit. The circumstances surrounding the bankruptcy can also influence a lender's decision. For example, if you went through a bankruptcy because your employer had financial difficulties, a lender may be more sympathetic. If, however, you went through bankruptcy because you overextended personal credit lines and lived beyond your means, the lender probably will be less inclined to be flexible.


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Eddy Martinez
Nationwide Funding Group - Highland Park, CA
Tom all of the information you provided is true. In the subprime Market lenders are more flexible as they will let you refinance one day after the bk is formally discharged. Depending on the specific situation the rate is still pretty good.
Jan 07, 2007 12:12 PM #1
Gary Schmitz
USRED - Brentwood, CA
US Real Estate Directory
Great info from both of you, thanks !!!
Jan 07, 2007 12:16 PM #2
Amanda Bowser
Equity Plus, Inc. - Smyrna, DE
Mortgage Officer Equity Plus, Inc


I've found that is stays on 10 years to the day. We have lenders that will lend 1 day out of bankruptcy. The idea is to immediately start establishing good credit.


May 28, 2007 12:26 AM #3
Elayna Fernandez
The Positive Mom - Irving, TX
BE Positive and You'll BE Powerful!

Elayna  Wow.. 10 years is a long time.  Great incentive to smart budgetting and saving.  Thank you for your post. Great info.

  Elayna Fernandez

  Marketing Naples FL

Nov 20, 2008 11:50 PM #4
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