If you’ve recently filed for bankruptcy, you may be concerned about whether or not it is possible to rebuild your credit. Fortunately, credit is a very fluid thing, and it is possible to establish new and good credit after filing for bankruptcy. In fact, sometimes filing for bankruptcy can be the best way to do this. While bankruptcy never looks good on your credit store, it will always look much better than having continually mounting and unpaid debts.

If you have filed for a Chapter 7 bankruptcy, the most common type of bankruptcy in the United States, you can expect this to show up on your credit report for ten years. Contrarily, filing for Chapter 13 bankruptcy will appear on your credit report for seven years. There are six other types of bankruptcies, which are much more uncommon, and each will have a different impact on your credit score. Because of these differences, you will want to be well aware of what type of bankruptcy you have filed and how long you will need to fight to rebuild your credit.

No matter what type of bankruptcy you have filed, however, you will still have to work hard to prove that you have learned from the situation and are now a much more responsible individual. The best way to do this, of course, is to pay your bills on time. This is especially important if you have filed for a Chapter 13 bankruptcy and are expected to make payments on previously owed debts.

You will also want to maintain a stable job and residential status. This shows creditors that you are reliable and are able to live and work in the same place for an extended period of time. Finding housing after filing for bankruptcy can sometimes be difficult, so it may sometimes be in your best interest to rent from an independent landlord, rather than a large leasing company, or to live with a roommate until you can get back on your feet.

Once you have secured an income and a place to live, you should open a checking and savings account with a bank. Be sure that you do not overdraft on either account and that you maintain as high a balance as possible. Establish a good relationship with your bank and keep an account open with the same bank for as long as possible. This can help you greatly when it comes time to apply for a new credit card.

Credit cards are actually one of the final and most important steps in rebuilding your credit.  While you may have some difficulty finding a credit card company that is willing to accept you, it is important to keep trying until you secure a card. Some companies even specialize in helping those individuals who have poor credit or who have filed for bankruptcy. Even if the card you are able to obtain has a very low limit, this can still work to your advantage. Be sure to be consistent with your payments and always pay more than just the minimum amount due. Following these steps properly will lead, slowly but surely, to new and improved credit and a new and improved quality of life.