The exact amount of time it takes for someone to recover depends on the type of bankruptcy filed, according to Experian. A chapter 7 bankruptcy stays on one's credit report for 10 years, while a chapter 13 bankruptcy stays for seven years. As time goes on, the damage to someone's credit score from the bankruptcy lessens.
Those who have filed bankruptcy may be able to get credit fairly quickly after the bankruptcy, but with unfavorable terms. The interest rate and fees associated with the debt can be high.
To help rebuild their credit, individuals need to prove that they can responsibly handle debt. One way to do this is by getting a credit card, using it, and paying the balance off every month. This helps the borrower avoid interest charges. All new loan payments must be made on time.