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July 27, 2015 10:21 pm Published by Leave your thoughts

While a bankruptcy may impact your credit reports for a decade, you don’t need to wait that long to rebuild your credit.

A bankruptcy doesn’t have to be a life sentence: Here’s how to start improving your credit scores today.

In most cases, it takes approximately three to four months to complete a Chapter 7 bankruptcy and obtain a discharge. However, if you have a complex case or creditors object to your discharge, it can take longer. This means that you can complete your case quickly and begin rebuilding your credit right away.

How to Repair Your Credit After Bankruptcy

  1. Make Sure Your Credit Report Accurately Reflects Your Bankruptcy.
  2. Keep Paying Non-Bankruptcy Accounts on Time.
  3. Avoid Credit Repair Companies.
  4. Get New Credit.
  5. Consider a Co-Signer.
  6. Avoid Job-Hopping.
  7. Make Your New Credit Card Payments on Time.
  8. Keep Your Balances Low.

The bankruptcy public record is deleted from the credit report either seven years or 10 years from the filing date of the bankruptcy, depending on the chapter you filed. Chapter 7 bankruptcy is deleted 10 years from the filing date because none of the debt is repaid.

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