If you have recently filed for bankruptcy, you are probably wondering how many years it will take to rebuild your credit history. The answer to that question is really up to you. While a bankruptcy proceeding will remain on your credit report for a certain number of years, depending on the type of bankruptcy for which you have filed, you can take steps to take control of your own credit and make it even better and stronger than it was before the bankruptcy took place. If you do this, you can be well on your way to living a debt free life.

First of all, you should be aware of how long the bankruptcy will remain on your credit report. Knowing this information can make it easier for you to be prepared for dealing with creditors. Often times, if you are upfront and open with them about your bankruptcy history, they will be much more willing to work with you. If you have filed for a Chapter 7 Bankruptcy, then you can expect this to show up on your credit report for a period of ten years. A Chapter 13 Bankruptcy, however, will only remain on your credit history for a period of seven years. During this time, you might have some difficulty securing any type of credit. This includes housing or apartment rentals, home loans, car loans, bank accounts, and in some rare cases, employment. You can take steps to turn your credit around, however. It will take a bit of work on your part, but it will be well worth it in the end.

The first thing you will want to do is to maintain stable employment and housing history. This might require you to take a lesser paying job or to live in housing that is less than ideal, but it will enable you to be in a better situation in the future. You will also want to get a credit card. This might have to be a card with a very low limit or through a lesser known company, but once you secure one, you can use it to better your credit score. Do this by always making your payments on time and staying within your limits. You will also want to open a checking and savings account, which again you may have to do with a lesser known bank, and then avoid going into overdraft and always keep the account positive. By doing this successfully, you show creditors that you have changed your spending and budgeting habits and that you are now a responsible individual who makes smart choices is capable of managing money. If you do these things, you will see your credit slowly begin to improve, and you will soon be on your way to having good or even better credit than you previously had.