Having had to declare yourself as bankrupt cannot be a pleasant experience. In fact it is one of the most terrible phases of life one can go through. But the only good thing about it is that after you are through the period of bankruptcy you start with a clean slate. The only thing you need to carry forward from your earlier days are the hard lessons that you learnt about managing your resources and learning to value what you have. Remembering those lessons will stand you in good stead in the future.



The first two or three years after bankruptcy are the most difficult and this is the period when you will have to fight it out. But you can start rebuilding yourself from this time only. For you to earn good credits quickly you have to cultivate healthy financial habits as early as possible. Here are a few steps you can take towards that.

Create a savings account if you already don't have one and make regular deposits to that account. You should deposit a fixed some every month. This shows that you are keen on saving for any emergency in the future.

Stay away from any further debts. Don't loan anything from anyone. If that means a much tougher life than what you are used to, then so be it.

Pay all your bills on time. This will show that you have learnt from your mistakes and you are not going to repeat the same in future. If there are late payments from your end, they might get reported to the credit bureau, something you will definitely not want to happen.

If you retain your credit card even after bankruptcy, then only make small purchases using it once in a while and pay back your dues immediately. This also shows that you have now learnt how to handle your credit card.

Apply for a secure credit card with your bank. These cards require you to deposit an amount with the bank and the bank will allow you credit only up to the amount that you have deposited with the bank. This is the best way to use the advantages of the credit card without spending more than you can afford.

All these steps will be assessed while evaluating your credit worthiness and if you follow them closely there is no reason why you wouldn't be considered for credit in the near future.