Oregon Bankruptcy Lawyer - Bankruptcy Attorney

How many years will a bankruptcy show on my credit report? How long will it take before I can get credit?

The fact that a person filed a bankruptcy petition can remain on the person's credit report for ten years under provisions of the Fair Credit Reporting Act, 15 U.S.C. Section 1681. If the debtor successfully completes a chapter 13 plan, many credit reporting agencies will report that information for only seven years.

The decision to grant or deny credit in the future is strictly up to each creditor and varies from creditor to creditor, depending on the type of credit requested. There is no law which prevents anyone from extending credit to you immediately after the filing of a bankruptcy; nor is there any law that requires a creditor or potential lender to extend credit to you.

How do I get the bankruptcy removed from my credit report?

The law states that credit reporting agencies may not report a bankruptcy case on a person's credit report after ten years from the date the bankruptcy case is filed. The Bankruptcy Court has no jurisdiction over credit reporting agencies. The Fair Credit Reporting Act, 15 U.S.C. Section 1681, is the law that controls credit reporting agencies. If you believe there is an error in your credit report and want to correct it, you should contact the credit reporting agencies.

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