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How long will bankruptcy affect me?

It’s been my observation that bankruptcy affects a person for up to 10 years during the first two years following the bankruptcy. Borrowing money is more difficult. After you’ve established some credit following your bankruptcy in about two years, you would be able to qualify for a home loan after about five years. Generally speaking, people are able to borrow money at relatively normal rates, and then after about 10 years, the bankruptcy will completely drop off your credit report.