Category Archives: Education System

Discussion on Credit in our education system.

How Long do Bankruptcies stay on Credit Bureau?

Bankruptcies will usually stay on a consumers credit bureau for 7 years. At that time they fall off and don’t report. Please don’t get this confused with having good credit again after 7 years because this is false information. It takes re-building during this time to bounce back after a bankruptcy Calgary. Please keep in mind this 7 years only applies to the 1st Bankruptcy. When a person has a second bankruptcy it can stay on longer. To bounce back from a bankruptcy I would suggest getting a secured credit card while paying the trustee. Some companies that offer secured credit cards will approve a consumer while in a bankruptcy. The idea would be to go bankrupt( if its a must), and re-build while in bankruptcy, so that when it falls off the bureau it shows positive trade lines (TL) already established. Do you have any questions on Bankruptcies? Is your Bankruptcy about to hit 7 years and you need to re-build?

Just my 2 Cents