Josh: How long does a bankruptcy stay on my credit?

Samira: The actual bankruptcy stays on your credit for 10 years from the date that you file it, and it doesn’t matter if it’s a Chapter 7 or a Chapter 13, but it’s from the day you file it and not the day it’s closed. That’s important to know. The impact, as far as in the lending industry, and this is the different question, is how does the lending industry look at your bankruptcies. After three years, they kind of think it’s irrelevant. If during those three years or two years, in some institutes it’s two, if you have worked to rebuild your credit, you can qualify to buy a home.