How does one rebuild credit after a bankruptcy?
When you file for bankruptcy, the bankruptcy filing will appear within your credit history. A bankruptcy is a derogatory notation on your credit file and can result in your credit score dropping up to 100 points–sometimes more. The Fair Credit Reporting Act states that a bankruptcy may remain on your credit report for up to 10 years. You can, however, begin rebuilding your credit immediately after your bankruptcy is discharged, even if the bankruptcy still appears on your credit report.Apply for a Credit CardDo not let it surprise you if you get plenty of credit card offers immediately following your bankruptcy discharge. This occurs because the credit card companies know that immediately after a bankruptcy discharge you are not permitted to file for bankruptcy again for several years, depending on the type of bankruptcy that you filed. Because of this, many credit card companies will be more than happy to extend new credit to you. Even if you are bombarded with credit card offers, re
