There are many different things you can do to obtain an improved credit score after you have had a bankruptcy. Most lawyers and mortgage companies will tell you that you need to wait three years before you can start to improve your credit scores and obtain better loans. While to a degree this is true there are things you can do immediately to improve your credit scores.
First it will be difficult to obtain a great loan on anything, but it is not impossible. You will have a high interest rate, but in order to improve your credit score you need to start establishing a good credit report. The only way to get the credit report back in favor is to have credit. You will need to find a credit card company that is willing to give you a credit card. Do your research. Find the credit card company that will offer you the lowest interest rate. While it may be high it is still important.
You should not use the credit card, except once a month. If you use the card to fill up on gas once a month and paying off the balance you are showing the credit reporting agencies that you are establishing better credit and therefore you will be a better risk down the road. Companies look for a steady monthly payment that you are never late on. They are also looking for a credit limit.
If you are showing a company that you have a credit limit and are responsible your credit score will begin to rise. The same applies for a car loan. If you have a car loan that you pay on time every month your credit score will soon increase.
The bankruptcy will keep your back on your credit report, but after three years you can start to remove some of the bad credit reports helping you to increase your credit score.
http://www.articlebliss.com/Article/Bouncing-Back-From-Bankruptcy--Obtaining-an-Improved-Credit-Score/131612
