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From what I've read, it first depends on type. The Chapter 13 bankruptcy credit report penalty will last 7 years from the date of final discharge. The Chapter 7 bankruptcy credit report penalty will last 10 years from the date of final discharge. Either way, the “weight” of the filing will decrease over time. So, step 1 is patience (because the Year 1 effect of the filing is worse than the Year 5, etc.).
Okay, so once you've mastered the mindset piece (I struggle with patience, so this is no small step), step 2 is: ensure the accounts included in your bankruptcy show a zero balance. If any accounts don’t appear as paid, go through credit repair to make disputes so you can have those items removed. This is important - seriously, review the accounts and ensure their balances reflect the bankruptcy.
Step 3 isn't terribly novel - just start making on-time payments. Religiously. Never miss a payment. No need to open up additional credit lines. No need to do anything out of the ordinary (although a secured card could help demonstrate credit-worthiness if you're so inclined). Just take a long view and start chipping away.
What was your score pre-filing, what is it now, what's your score goal, and how long would you like it to take?
(related: hang in there!)
Phew, that's a tough one - even though I have an employee badge, I don't have all the answers. :(
I would say though, it's going to be a slow haul, I've heard bankruptcies take a long time to clear up. Since you are starting over, I'd say do the following:
Hope that helps a bit, good luck! Please let us know how it goes.
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