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How many years will a bankruptcy show on my credit report? Maine

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  • How many years will a bankruptcy show on my credit report? Maine

    The fact that an individual filed a bankruptcy can remain on the credit report no longer than 10 years under provisions of the Fair Credit Reporting Act. If a chapter 13 bankruptcy is successfully completed, the credit reporting industry retains the information for only seven years rather than the ten years allowed by law, according to the Associated Credit Bureaus, Inc. The decision whether to grant you credit in the future is strictly up to the 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 will a creditor be required to extend credit to you.
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