Repairing credit following a Bankruptcy
 

Yes, I know it takes 7-10 years for it to "dissappear".

What are some of the best and more fiscally responsible ways to repair credit following bankrupcty? Besides being patient that is.

marry rich.

Of course, I may be wrong about this, but my understanding is that to re-establish credit is to make sure the balance is paid in full at the end of each period. I hope this isn't bad advice.

After bankruptcy, there are several creditors that will provide opportunity to re-establish credit by means of a higher interest credit card. I'd suggest taking advantage of only one and use it once a month to make a purchase of something within budget and pay it off at the end of each month. Never max it out and only buy one item each month, even if it's something as inexpensive as a CD or DVD.

Also, a lot of oil companies will offer a credit card for gasoline. Get only one of those as well and use it to fuel your vehicle and pay off the balance each month.

Check out creditboards.com. Best site on the net for this IMO. They'll teach you how to best "game the system" and raise your score in the best ways.

as far as credit cards go, i've also heard that you should never carry a balance that is more than half the credit limit of the card. even if you have great credit and all that, it will hurt your fico score.