Can borrowers repair their credit once bankruptcies have been discharged?

In the short answer, yes. Bankruptcy protection should never prevent credit repair provided the debtor re-establishes new accounts and maintains their repayment with all due diligence. As to how quickly this will happen, the scenario is different for every borrower. In some cases, the credit repair specialists that’ll be knocking down the door may actually make a difference. On the other hand, for those truly desperate debtors absent assets or much income to speak of, the road to credit recovery could be a long and difficult path. The bankruptcy notation itself won’t be removed until government guidelines force such – generally seven to ten years – but, surprisingly often, the three credit bureaus record wrong and easily verified data which should’ve been changed after bankruptcy protection had begun. In this way, for borrowers with the means to employ credit repair specialists and who’ve had sufficient negative accounts to be concerned, professional assistance could make a great deal of difference, but there really is nothing these agencies can do that the debtors cannot do themselves. The idea’s appealing – allowing a self-described professional free rein to fix the credit of otherwise desperate consumers – and that’s the cause of so much malfeasance within the industry. Always maintain suspicion, and never fully trust any company promising debt elimination without penalties for the debtor.