Here are some other tips to help you rebuild and improve your credit rating during bankruptcy or after your discharge:

1. Establish New Credit: The best way to rebuild your credit during or after a bankruptcy is to establish accounts that will report positive information on you. A new Mortgage is a great way to rebuild credit as it is a fresh start and mortgage lates reported by your current lender will count less against your credit score each month that goes by. Get a single credit card with a small credit limit, use it sparingly and pay the entire balance every month before the due date. Go to this website, they give an unsecured credit card to anyone, even people in bankruptcy.  https://www.hsbcapply.com/select/orchardbank

2. Dispute Your Credit Report: 95% of credit bureaus contain innacuacies.  In writing to the three credit bureaus and disputing the negative information on your report, it is up to the creditor to verify this information.  If they do not respond in 30 days, negative information is automatically deleted. Get a copy of your credit report and dispute your negative information.  Download this Sample Dispute letter Sample Credit Dispute Letter.doc

3. Pay  New Credit On Time: Most credit cards and utilities report late payments to credit reporting agencies. If you make late payments every month, potential lenders will continue to see you as a poor credit risk. Also, most credit cards add a late fee whenever you’re late with a payment. Avoid late fees and reports of late payments by paying your accounts in full before the due date.

You should check your credit report three to six months after the bankruptcy discharge and make sure the discharged accounts are being reported as "discharged in bankruptcy". Oftentimes, creditors report the discharged accounts as charge off, collections, open unpaid or other such ways which will have a more detrimental effect on your credit score. It is very important that you keep all bankruptcy papers, especially the list of discharged creditors.

There are five major types of information used to calculate a FICO score and they are listed below. Each type of information counts as a percentage of a total FICO score and the calculations may vary a bit from each credit agency. This is a good rule of thumb to follow:

- 35% Payment History
- 30% Amounts Owed
- 15% Length of Credit History
- 10% New Credit
- 10% Types of credit

Using credit is a proven way to re-build credit after bankruptcy. If you cannot get a credit card, apply for credit from department/drug stores and gasoline companies for expenses that you normally pay cash for. Also apply for a debit card, which you need to first deposit funds. You may also want to have a relative co-sign your credit application to ensure approval. Most important of all, once you are extented credit, be certain to make payments on time.

Once your bankruptcy has been discharged your credit will need to be cleaned up. Keep copies of all bankruptcy documents and attain documents from each creditor (credit cards and collection agencies) that indicate that the debt was removed via bankruptcy.  Order a credit watch type of program to keep your eye on what is on your credit and make sure all open discharged accounts are removed from collection status or late status as that will effect your credit scoring and ability to get more credit. Do not get yourself into deep debt again, you only need to establish a couple of new accounts with small limits to get a new foundation for credit.