How to remove a Bankruptcy from your Credit Report?

Actually, a bankruptcy, whether a Chapter 7 or a Chapter 13, stays on your credit report for 10 years. The laws changed in 2005, and now both types are reported for 10 years. In general, during the first two years after a bankruptcy is filed, you will have a difficult time getting credit at a reasonable interest rate. But as time goes by, those difficulties decrease. If you have a car and/or house and continue making those payments in full and on time, your credit will recover fairly quickly. After the two-year period, you should try to obtain a low-limit credit card, and make small charges you can pay off in full each month. It take time and discipline, but within about five years after you file a bankruptcy case, your credit score can be moderate to good. However, the best thing to do is avoid incurring debt at all. I'm a bankruptcy lawyer, and I have no credit cards. It's a huge relief to live your life on a cash basis, and not dread every walk to the mail box. I strongly encourage my clients to end their enslavement to credit scores, build up a healthy bank balance, and stop throwing their money away on interest payments to creditors.

What's funny is that lenders are often willing to loan to people who still have a bankruptcy on their report. Because the bank knows that you don't have any outstanding debt, and are looking for ways to improve your credit. Also, with the new laws in place, they know you won't be able to declare bankruptcy again for a while, making you a relatively good risk. Often the rates will be higher, but if you manage your accounts well, you should be able to improve those rates over time.

the answer given is half right: a chapter 13 remains for 10 years, a 7 remains for 7 years and you really cannot legally remove it. Sorry. The tactic the above hubber is trying to tell you about is the "credit repair" people promise to repair everything, they get a copy of your credit report, write letters to the big three reporting agencies and put all negative items in dispute status - which TEMPORARILY forces the items off of your report for a small window of about 30 days. During that small window of time you appear to have good credit.

But mind you in the current climate you should know up front that knowingly applying for credit and representing yourself as having excellent credit while doing this constitutes misrepresentation to the bank you are applying to for credit - FRAUD - so I do not recommend it.

By law and FCRA - Fair Credit Reporting Act - the bankruptcy will have to be indicated on your report. You can TRY to have it removed if it's been over 7 years??

See my hub for more info: Free Credit Repair

However, this is not the end of the world. Many creditor's like to see someone starting over. I've known those right out of bankruptcy qualifying for a house, new car, etc....