How will Bankruptcy Affect my Access to Credit?
According to some experts, a bankruptcy filing can actually improve a credit score, especially if filed subsequent to a marked deterioration in the report. See, for example, Aleksandra Todorova’s article, Declaring Bankruptcy Can Improve Your Credit Score, published at Smartmoney.com, January 22, 2007.
I understand that most people find credit for large items, such as a house or car, available at reasonable terms as early as a year after filing for bankruptcy protection. Most mortgage lenders want to see about a year’s worth of on-time payments on various accounts, which may include things like utility bills. The same applies to car loans. You can almost always find credit if you are willing to pay a premium. In some cases, credit card issuers delight in extending expensive credit to people just emerging from bankruptcy. 
It means that you will pay more interest than most and be more likely to make timely payments, because you have little debt and an enhanced incentive to pay after your experience. If you do not find this to be the case, you can look into developing a good credit history by obtaining a secured credit card, as described below.
The Smartmoney.com article referenced above lists the following tips on repairing your credit score after having filed:
1. Monitor Your Credit Report
Make sure the credit bureaus accurately reflect all the accounts you listed in your bankruptcy proceeding and show $0 balances upon discharge. A creditor who continues to report the account as delinquent is in violation of federal law.
You have the right to correct inaccuracies in your credit report. And under the law, the proper approach is to send a letter to the credit bureau that contains the erroneous report. For a description of the process and a sample letter, see the website for the Federal Trade Commission, here.
For credit bureaus’ mailing addresses, click here.
2. Use New Credit Cards
Ironic as it may seem, the fastest way to a good credit score is to use credit. If you experience difficulty in approval for an unsecured credit card, start out with a secured card. With a secured card, you will make a cash deposit with the credit-card issuer, and the amount of the deposit is your credit limit for the time being. Typically, after a year to 18 months of on-time payments, you will be approved for a regular, unsecured credit card.
3. Piggyback on Another’s Good Credit
If you have a trusted friend or relative, ask them to make you an authorized user on one of their credit cards. Should your friend agree, your bankruptcy will not affect your friend’s credit. But your timely payments on account of your use of the card will show on your credit reports.
4. Don’t Delay
Understandably, after having obtained bankruptcy protection, people are often reluctant to use new credit. After all, it was credit that got them in trouble in the first place.
But not doing so can hurt you later on, particularly if you plan eventually to obtain a car loan or mortgage financing.