Somewhere in the glass-fronted Equifax building in Atlanta, someone is calculating your credit score. If you are a bankrupt, a poor credit score may affect your financial future for the next ten years. Strange as it may seem, acquiring more debt and handling it responsibly will do more to improve your score than a clean slate. The following article will show you how to rebuild your credit after bankruptcy by opening new lines of credit.

To find out what your current credit score is, you need to ask Equifax and the other two major agencies responsible for collecting credit information, Experian and Trans-Union. Although you can obtain an annual report for free, the agencies are not obliged to include your credit rating in the report. Each agency will charge you around $6 to give you a report containing your credit score. Legally, these agencies also have to verify your signature on a debt or remove it from your record. By disputing any discrepancies in your report you may be able to reduce your overall debt and improve your rating.

Getting, keeping and maintaining small amounts of debt will help to improve your credit score. Secured Credit Cards are a good way to do this. This type of card is linked to a savings account. The amount of credit the card has is limited to the same amount deposited as savings. As the financial activity on these cards is directly reported to the credit agencies, a good record of repayments on the card will improve your score.

Some major retailers also offer customers store credit cards and store cards are generally easier to obtain than other credit cards. Applications for a store cards may ask for little more than a statement of your current income, and do minimal checks on your credit rating. However, store credit cards are likely to be harder to get in the current economic climate and carry hefty interest rates.

Obtaining a small personal loan may be another line of credit open to bankrupts. Companies offering car loans are often especially keen to lend to people with bad credit scores. Having a record of regular repayments on a small loan will be a major factor in restoring your credit.

Regardless of where your new line of credit activity is, it is important to pay regularly and on time. As someone who has recently filed for bankruptcy, you will be faced with high rates of interest and more stringent borrowing restrictions. Nothing will affect your credit rating more than defaulting on payments and failure to pay out loans within the agreed time. It may take as long as two years improve your credit score, but with regular repayments on your debt you may see an improvement in your credit score in as little as three months.