Short answer
Yes, but usually not straight away. Bankruptcy normally ends 3 years and 1 day after it starts, and it stays on your credit report for 5 years from the start or 2 years after it ends, whichever is later. Some lenders consider applicants after discharge, often with a larger deposit or a higher interest rate, and more options open up once it's off your credit report.
When does bankruptcy end?
If you applied for bankruptcy yourself, it generally ends automatically 3 years and 1 day after the Official Receiver (AFSA) accepted your application. If a creditor made you bankrupt, it's 3 years and 1 day after you file a statement of affairs that AFSA accepts. This is called being discharged.
In some cases your trustee can extend the bankruptcy by objecting to your discharge. A bankruptcy can also be annulled, for example by paying your debts in full.
How long does it stay on your record?
| Where | How long |
|---|---|
| Your credit report | 5 years from the day you became bankrupt, or 2 years from the day it ended, whichever is later |
| National Personal Insolvency Index (public register) | Permanently, updated to show you've been discharged |
As at 27 October 2026. Sources: OAIC, AFSA.
For a typical bankruptcy that ends after 3 years, the later date is 2 years after it ends, so it usually stays on your credit report for about 5 years in total.
What do lenders look at after bankruptcy?
- How long since discharge, and whether it's still on your credit report
- Your conduct since: on-time repayments on any credit you've had, and no new defaults
- Your savings: a deposit built up steadily shows you're managing money well
- Your income: stable employment or business income
- What happened: a clear, honest explanation, for example a business failure, illness or separation
While it's still on your credit report, your options are usually limited to lenders that consider borrowers with past credit problems. These loans often have higher interest rates or fees, or need a larger deposit. Once it has dropped off your report, more lenders may consider you.
Steps that help
- Get your discharge letter from AFSA and keep it with your records.
- Check your credit reports. Equifax and Experian must give you a free copy once every 3 months. Make sure the bankruptcy shows as discharged and nothing is wrong.
- Fix errors for free through the credit provider or credit reporting body, and use AFCA if you can't resolve it.
- Build a clean record: pay every bill and repayment on time. A payment counts as missed if it's more than 14 days late.
- Save steadily, ideally into one account, so lenders can see your saving pattern.
- Talk to a broker before you apply, so you don't add credit enquiries with lenders that won't consider you yet.
What about a debt agreement?
A debt agreement is a different arrangement under bankruptcy law. It also stays on your credit report for 5 years from the start, or 2 years after it ends, whichever is later, and lenders look at it in a similar way.
How MoneyGenie helps
- Works out, with you, when your bankruptcy is likely to drop off your credit report and what's realistic before then.
- Finds lenders that may consider applicants after discharge, and explains their conditions and costs honestly.
- Helps you present your application: what happened, and how you've managed your money since.
Nabita compares options from MoneyGenie's panel of 35+ lenders, tells you upfront which are realistic for your situation, and handles the application with you through to settlement. Our service is generally at no cost to you, as we're paid a commission by the lender, which we disclose to you upfront. Details are in our Credit Guide, available on request. Talk to Nabita: call 040 110 1608 or send an enquiry.
Call 040 110 1608 Send an enquiryLast reviewed by Nabita, mortgage broker, MoneyGenie Finance.
Official sources
Frequently asked questions
When does bankruptcy end?
Usually 3 years and 1 day after AFSA accepts your bankruptcy application, or after you file an accepted statement of affairs if a creditor made you bankrupt. A trustee can extend it by objecting to your discharge.
How long does bankruptcy stay on my credit report?
For 5 years from the day you became bankrupt, or 2 years from the day it ended, whichever is later. Your name also stays permanently on the National Personal Insolvency Index, updated to show you've been discharged.
Should I tell a lender I was bankrupt?
Yes. Lenders can see it on your credit report and on the public insolvency register, so being upfront and explaining what has changed since is the best approach.
Does paying a credit repair company help after bankruptcy?
It can't remove correct information. Moneysmart says you can't change or remove correct information on your credit report, and you don't need to pay anyone to fix errors.
The rules and figures in this guide were checked against the official sources above on the review date. Government rules and lender policies change, so check your own situation with us or the relevant authority before acting.