Not just bankruptcy. Banks and businesses contract with check verification companies such as ChexSystems. I had a friend who bounced a check and it took him a few weeks to reimburse the bank. By then the bank closed his account and reported him to Chex, who put a 5 year hold on his ability to get another checking account through any bank that used Chex verification (> 90%), essentially blackballed.
That may be so, but the GP was talking about the time it takes checks to clear. IIRC, uncashed checks aren't even valid after 180 days, let alone 7 years.
Negative credit information falls off after 7 years from date of first delinquency.
Always dispute negative credit items; more likely than not, it won't be verified and is usually removed. Otherwise, wait 7 years and then dispute again.