END OF BANKRUPTCY

There is no specific time limit – legallly, as long as you inform the lender that you are an undischarged bankrupt you may start borrowing again on the same day your bankruptcy starts. Of course, from a practical standpoint, you are not likely to be approved.

Once you have been discharged the fact that you filed an assignment in bankruptcy will appear on your credit report for up to 6 more years. It is up to each lender to decide when and if they will grant you credit.

If you want to try and re-establish your credit more quickly you should look at different types of secured debts: a secured credit card, a car loan, things like this. Secured debts are easier to obtain because if you default on your payments the lender may repossess the item you borrowed to buy.

There is no magic or special trick to rebuilding your credit rating. It simply takes time…