How long does insolvency stay on your record?

Answer 1

Insolvency, such as bankruptcy, typically remains on your credit report for 6 to 10 years, depending on the type of bankruptcy filed. Chapter 7 bankruptcy usually stays for 10 years, while Chapter 13 remains for 7 years. However, the impact on your credit score lessens over time as you rebuild your credit. It's important to check your credit report for accuracy and take steps to improve your financial standing post-insolvency.