After you’ve declared bankruptcy, and you now have been discharged, you might be wondering what are bankruptcy credit repair actions you can take now? It’s going to be a long hard road, that’s one thing you can be sure of, to repair your credit again. If you haven’t filed bankruptcy yet, but are thinking about it, read this post before you file, you may change your mind. Bankruptcy credit repair is not impossible, but it will be tough. Here is what you can expect.

First off, it’s odd but if you’ve used a credit repair attorney they may not be the same person you’d hire as a bankruptcy attorney. A bankruptcy attorney probably has nothing for you at all after bankrutpcy to help you repair credit afterward. They got their fee, and did their job, now you’re back on your own.

Next, remember that a bankruptcy stays on your credit report for ten years. Some creditors will automatically turn you down just because they see the bankruptcy, even if it was eight years ago and you’ve paid all on time since then. That’s pretty hard to overcome. This means you just have to sit there and keep current on everything for ten long years.

As for your credit score, a personal bankruptcy will affect your credit score for sure, but by the time you get to file bankruptcy, your score has already been so damaged by late payments, the bankruptcy itself isn’t going to lower your score a whole lot more. Still, going forward, it won’t be easy to get your score up due to the bankruptcy, which shows up as a public record on your credit report.

You will also see than next to every single debt you discharge in bankruptcy, there will be an entry on your credit report that says “Discharged in Bankruptcy”. Guess what? For a lender, that’s like waving a red flag in front of a bull. All they can see is that long list of lenders and creditors who got “discharged in bankruptcy” and lost all the money that they lent to you. So going after bankruptcy credit repair may be futile ins some degree as long as that mark appears.

However, some lender and other creditors will cut you a break after a couple of years. While many banks won’t take the same risks today that they took just a few years ago, with people with bad credit on their records, after two years of paying everything you have left on time, you can possibly see some improvement in your credit score. You may have some debts, like a student loan, that you didn’t discharge, that you are still paying. Or you “reaffirmed” a car loan ( meaning you didn’t default and lose the car but continue to make payments) then be sure you keep paying those on time no matter what, so you can rebuild your credit in some fashion.

If you have any debts at all you are still paying, one method for bankruptcy credit repair you must follow is to pay those on time every single month. If after your bankruptcy there is even a hint that you are falling behind again, you will be in big trouble. You can’t just refile bankruptcy either, you have to wait a period of time before you can do another filing. So don’t stock up on a lot of new debt just because your credit record has been wiped clean. (Not that banks will be beating down your door to lend you money anyway!)

Finally, this might be a good time to stay out of debt once and for all. When economic trouble hits, its people who are in debt who have the most trouble from possible job losses, or higher living costs, because those monthly payments are still hanging over their heads. In addition, it becomes nearly impossible to build real family wealth while a chunk of your paycheck goes to pay debts every month, instead of into the bank where it can earn interest or grow in the stock market or other investments. When you are paying off debt, you are making someone ELSE rich! Why not stay out of debt, now that you have cleared the slate, and start making yourself rich instead?

These basic bankruptcy credit repair efforts, while they will take some time, will eventually get your credit back on track – but you might find you don’t really need to get in debt again after all.