You can start applying for new credit immediately after your case is discharged; however, it is likely that you will be required to pay higher interest rates on credit you obtain immediately after a bankruptcy. Although you may be able to obtain a mortgage as soon as one day after a bankruptcy, industry experts recommend spending 1-2 years rebuilding your credit to ensure that more competitive loan rates are available to you.

To support a monthly mortgage payment, you must show that you have the appropriate monthly income level. Auto loans are also available immediately after a bankruptcy if you can verify a steady income.