How long will bankruptcy affect you?

[HopeinHorizon]

I know that it drops off of your credit report after 10 years, and I don't know of any companies that do court checks (unless that is included in a typical background check)...

So, once the scarlett letter falls off of the credit report in 10 years, should filing affect my life at all?

[SinkingFast]

There will be several times you'll apply for credit where the app will ask if you've ever filed for BK. Once it's fallen off, I don't know that you have to say Yes, but I know people who did. They told when and where and that was it.

I know from reading at Fannie Mae, lenders think people who have filed BK once are much more likely to file again than another person with similar qualifications. May be a judgement call thing more so than a practical experience type thing. I dunno.