Applicant has a Chapter 7 Bankruptcy on record

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Hello everyone,

I have an applicant for one of my units who has a Chapter 7 bankruptcy on their credit report. It looks like it was filed in 2016, settled in 2020 and is now discharged. I am just curious what everyones opinion or experience is with tenants or applicants in regards to bankruptcy. All other aspects are positive for this applicant so I want to know if bankruptcy is a reason alone to move on to another applicant. Also, is it normal for the process to take 4 years to get settled?

Thanks in advance for your response,

Tim