If you have declared personal bankruptcy, that fact may be reported by credit bureaus for ____________ years.
A) 5
B) 10
C) 15
D) 20
E) 25

Question

Quizplus · Accepted Answer

When you file for bankruptcy, it is reported on your credit report for up to 10 years. This information could affect your ability to get approved for credit or loans in the future as it shows that you were not able to pay your debts in the past. However, as time passes and you demonstrate responsible financial behavior, the impact of the bankruptcy on your credit score and creditworthiness may diminish.

If You Have Declared Personal Bankruptcy, That Fact May Be