Have you recently filed for bankruptcy? It does not matter if you chose to do so through Chapter 7 or Chapter 13, this will have both a positive and negative impact on your finances at the same time.

Once your case comes to an end and it is time to move on with your life, you may begin to consider the steps towards rebuilding your credit.

As challenging as it may sound, there are three tips you can use to your advantage. You are not going to regain a high credit score within a matter of months, but if you follow the right path for an extended period of time, you can once again find yourself in good position in this area of your finances.

1. Secured credit card. This is by far the easiest way to re-establish credit after bankruptcy. With this option, you give money to the bank and they give you a credit limit of the same amount. In short, this works like a debit card but has the benefits of a credit card.

Note: watch out for banks that charge a high fee to open a secured credit card account.

2. Unsecured credit card. Believe it or not, many lenders will begin to send you credit card offers shortly after your filing is complete. This is not a mistake.

When choosing an unsecured credit card, opt for one with no upfront fees and no or low annual fee. You are just getting back on your financial feet, and you don’t need to pay an excess amount in fees for an unsecured credit card.

3. Bank loan. At some point, you may find it time to apply for a bank loan. For example, this is common when purchasing a vehicle. The terms may not be as good as they would be if you had excellent credit, but you have to start somewhere.

You will face many obstacles as you attempt to rebuild your credit after bankruptcy. As long as you remain positive, even when you are denied credit, you will eventually find yourself moving in the right direction.