Sometimes events beyond your control (or mistakes that you made when you were younger and foolish) catch up with your credit and personal finances. At this point, it may actually be your best option to get a fresh start through filing for bankruptcy. The downside is that for the next several years, you will be a credit pariah.
Prepare for a Fresh Start
As you near the seven to 10 years when the bankruptcy falls off of your credit report though, lenders and creditors will once again start to approach you. They realize that you are unlikely to want to file bankruptcy again any time soon, and will be willing to give you another chance, albeit at much higher accompanying interest rates while you rebuild your shattered credit profile.
There is nothing that you can do to remove the derogatory remarks associated with bankruptcy from your credit report any sooner than the legal timeframe it must remain on there. You can double check that all of the information being reported to the big three credit bureaus (Experian, Equifax, and TransUnion) is at least correct.
Send Your Letter of Discharge
Any accounts that were charged off can not continue to be reported as delinquent or sent out to collections. It is a good idea to send your letter of discharge to each of the three credit reporting bureaus so that they are intimately aware of what can and can not be reported on your personal credit file. Taking this proactive step is the easiest way to effectively manage your bankruptcy once it has been discharged.