How is bankruptcy reported to the credit bureaus?
A. Each creditor may report the information differently. Bankruptcy will show up on your credit report as a public record item and may remain on your report for up to 10 years. This information may show up on your credit report as either “charge off”, “bankruptcy liquidation”, or “discharged in bankruptcy”. Some creditors may not report it at all. Bankruptcy is a very serious step. It should not be taken lightly as this information will remain on a credit record for a long time and will affect future credit purchases. Creditors will view bankruptcy as failure to pay debts.
