Q. Is it possible to recover from a bankruptcy, credit wise? If you went through a divorce, filed bankruptcy and remarried, how do you keep your credit from affecting your spouse's credit? After a bankruptcy, will you ever be able to buy a home, if a house was included in the bankruptcy?

A. First, let us reassure you that you can recover from bankruptcy. It's difficult and it takes a long time, but you can do it. The even better news is that your credit, no matter what kind of shape it's in right now, will not affect your husband's credit. His credit is his credit and your credit is yours. Your credit could have a negative impact on him (but not his credit) if you were to apply to buy a home together, because a credit check would be done on each of you, and your report could be a negative.

If you haven't done so, you should start repairing your credit immediately. If your bankruptcy erased all your outstanding debt, all you have to do to re-establish credit is to pay your bills on time -- rent, utilities, insurance, etc. If you don't have a credit card (MasterCard or Visa) you should get one, make a small purchase each month and pay it off in full when your bill comes in. This is one of the best ways to re-build good credit. Here are links to a couple of articles on our website on improving your credit score and where to find the best secured credit card if you can't qualify for a regular one.

You should also get copies of your credit reports (you can get free copies once a year at: www.AnnualCreditReport.com). That way, you can see if there are any errors (there often are) or any black marks that you can correct, such as an unpaid bill. Each credit reporting agency provides instructions for making corrections on their credit report. The one thing you can't change is the bankruptcy, which will remain on your report for seven to 10 years.

As far as buying a home, you should be able to do so in two to three years, assuming that your credit has been very good to excellent since the bankruptcy. You should be able to qualify for an FHA mortgage two years after your bankruptcy and get a good rate, assuming good credit.