In 2025, you cannot legally remove a bankruptcy from your credit report before the designated time unless the information is inaccurate or misreported. Under the Fair Credit Reporting Act (FCRA), a Chapter 7 bankruptcy remains on your credit report for 10 years from the filing date, while a Chapter 13 bankruptcy stays for 7 years.
When Can Bankruptcy Be Removed Early?
Bankruptcy can only be removed early if it's inaccurately reported. Common errors include:
- Incorrect filing dates
- Duplicate entries
- Accounts wrongly marked as included in bankruptcy
- Personal information errors (e.g., wrong name or Social Security number)
- Bankruptcy filings resulting from identity theft
How to Dispute Inaccurate Bankruptcy Information
- Obtain Your Credit Reports: Request free copies from Equifax, Experian, and TransUnion via AnnualCreditReport.com.
- Identify Errors: Review each report for inaccuracies related to the bankruptcy entry.
- Gather Supporting Documents: Collect evidence such as court documents or identity theft reports to support your dispute.
- File a Dispute: Submit a dispute to each credit bureau reporting the error. Include a clear explanation and your supporting documents.
- Follow Up: Credit bureaus are required to investigate disputes within 30 days. They will notify you of the results and any corrections made .
Avoid Credit Repair Scams
Be cautious of companies promising to remove accurate bankruptcy information from your credit report for a fee. Such promises are often scams, as accurate negative information cannot be legally removed before the designated time .
Rebuilding Credit After Bankruptcy
While waiting for the bankruptcy to age off your credit report, you can take steps to rebuild your credit:
- Timely Payments: Consistently pay all bills on time.
- Secured Credit Cards: Use secured credit cards responsibly to establish positive credit history.
- Credit-Builder Loans: Consider small loans designed to help build credit.
- Monitor Credit Reports: Regularly check your credit reports for accuracy and track your progress.
By maintaining good financial habits, the impact of bankruptcy on your credit score will diminish over time, even before it is removed from your report. David A. Arietta, Esq. has helped thousands of people file for bankruptcy relief. In general, most of his clients can obtain good credit within 3 years of a Chapter 7 discharge and soon after the entry of a Chapter 13 discharge.
quick recap of bankruptcy for Individuals
The two main types of bankruptcy for individuals are Chapter 7 and Chapter 13 bankruptcy. Chapter 7 is often referred to as a “straight” bankruptcy or a “liquidation” bankruptcy and Chapter 13 is a type of bankruptcy that allows for the reorganization of debts for individuals and small sole proprietor businesses.
quick recap of bankruptcy for Businesses
The two main types of bankruptcy for businesses (corporations and LLCs) are Chapter 7 and Chapter 11 bankruptcy. Chapter 11 is a type of “reorganization” that allows a company to continue to operate and propose a plan to pay creditors cents on the dollar. Chapter 7 is a means of closing down the corporation and having the bankruptcy court assist in the winddown process and notify creditors of the process.