How long does the bankruptcy stay on my credit report?

In Washington, the bankruptcy filing remains on your credit report for seven to ten years depending on the type of bankruptcy filed. Chapter 7 bankruptcy is a liquidation bankruptcy that wipes out most of your unsecured debt (credit cards, medical bills, etc.) and is the most common type of bankruptcy. In Chapter 7 bankruptcy, the filing will remain on your credit report for up to ten years from the date of filing. The bankruptcy filing does not immediately trigger a dip in your credit score. However, the bankruptcy filing will appear in the public records section of your credit report and will be visible to potential lenders and landlords. This can make it more difficult to secure a loan or find housing. The presence of a bankruptcy on your credit report also lowers your credit score. The exact effect varies depending on other factors, such as your current debt-to-income ratio and payment history. A bankruptcy filing can cause your credit score to drop anywhere from 50-150 points. Ultimately, the best way to start rebuilding your credit after filing bankruptcy is to make on time payments and manage your debt cautiously. It will take some time and consistency, but your credit score should start to go up as you make progress in rebuilding your credit, and the bankruptcy filing will no longer have a large negative effect on your credit score.

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How long does the bankruptcy stay on my credit report?

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