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6. Reestablish your credit with a line of credit . You may be able to get what's called a second loan or line of credit through your bank that's secured by a savings account. This would help you reestablish credit although the interest that you earn on the savings account will be more than trumped by the interest you will be required to pay on the line of credit.
7. Nurture long-term relationships. Time does heal all wounds including a bankruptcy. Since 15% of your credit score is based on your credt history it's best to stay with the same bank or credit card as long as possible. You might even eventually be able to get a credit card from the same issuer you had before your bankruptcy. Of course, you will need to prove that you now know how to use it wisely.
8. Don't buy a car unless it's absolutely necessary. You should resist the impulse to buy a car for two years unless you really absolutely need to get one. You may find some used car dealers that will be able to arrange an auto loan before two years but if so it will have very harsh terms. You need to spend two years rebuilding your credit before applying for an auto loan to get favorable terms. And you just can't wait two years while doing nothing. Just waiting two years will not improve your credit score. You need to use that time to reestablish a decent credit history. If you wait two years you could even apply for a new mortgage if you can show that you've rebuilt a good credit history during that time.
9. Steer clear of scams. Don't fall for any company that promises it can quickly fix your credit after bankruptcy. It's hard work to reestablish your credit. There are no shortcuts. The good news is that you can do it yourself and for free. Credit just can't be repaired overnight though there are a lot of scamsters that will promise to do it for you – for a large fee. If the company requests a fee upfront you can just about bet it's a scamster. Even if the company seems legitimate and doesn't seem too good to be true don't do anything until you've checked it through your local Better Business Bureau or your state's regulatory agency.
10. Remember the human touch. If you find you just can't get a lender willing to take a chance on you after your bankruptcy, try writing a letter explaining the circumstances of your situation. There are times when the lending business can be a very human one. If you can responsibly and maturely explain why this was a one time thing and that you have learned a lesson and have moved on this could help the lender decide in your favor as most loan officers understand that bad things can happen to even good people.
Don't despair because you were forced to file for bankruptcy. It's possible to get back in the game in just two years by following the tips you read in this article. It will take some work on your part but it's more than possible that after just two years you will be able to get new credit at reasonable interest rates, including even a mortgage or auto loan. Just make sure you treat that new credit sensibly so that you don't end up in the same black hole that forced you to declare bankruptcy.