Expert Insight: How Long Do Bankruptcies and Foreclosures Stay on a Credit Report?

They can remain on your credit record for seven to 10 years; however, a borrower who has worked hard to reestablish good credit may be shown some leniency by the lender. The circumstances surrounding the bankruptcy may also influence a lender’s decision. For example, if you went bankrupt because you were laid off from your job, the lender may be more sympathetic. If, however, you went through bankruptcy because you overextended personal credit lines and lived beyond your means, it is unlikely the lender will readily give you a break.