Below is an extract from the Privacy Act 1998 (amended) which you may find useful regarding how long a bankruptcy will remain on your credit file. The full version can be viewed online at http://www.comlaw.gov.au/Details/C2014C00757
20X Retention period for credit information—personal insolvency information
If personal insolvency information relates to a bankruptcy of an individual the retention period for the information is whichever of the following periods ends later:
(a) the period of 5 years that starts on the day on which the individual becomes a bankrupt;
(b) the period of 2 years that starts on the day the bankruptcy ends.