Filing for bankruptcy is often seen as a last resort for individuals facing overwhelming debt, and while it can provide relief, the consequences are long-lasting. One of the biggest impacts of declaring bankruptcy is the hit to your credit report, which can affect your ability to get loans, credit cards, or even rent an apartment.

The good news is that bankruptcy doesn't stay on your credit report forever. Over time, its impact lessens, and you can take steps to rebuild your credit. However, during the period it remains on your report, lenders may view you as a higher risk, making it more difficult to obtain favorable terms on loans or lines of credit.

So, do you know how long a bankruptcy filing typically remains on your credit report? Let’s find out!