Question

I went bankrupt back in 2015. It was a difficult decision to make, but I felt I had no other options. I owed tens of thousands to credit card, my business loans, and I also had a mortgage. I lost my home, but being out of debt was liberating. I felt like I could breathe again.

My question is when will the bankruptcy be removed from my credit report? I have tried to apply for a credit card, and I was declined.

Thanks in advance.

Ste

Answer

Ste,

Many people do feel a relief after going bankrupt, as they have dealt with their debts for so many years. It feels good to get out from under it all and start fresh.

Everything on your credit history stays for six (6) years. So if you filed for bankruptcy in 2015, the bankruptcy should drop off this year, but it may be 2022, depending on when you went bankrupt?? I would give it till 2022.

Check your credit report after the New Year, and if the bankruptcy still shows, you can follow the guide and procedure to contact the credit bureaus to have it removed.

Regards,

Jon

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