Will I be able to rebuild my credit post-bankruptcy?

[luckstyl]

For details, please see my thread in the general bankruptcy forum. The bottom line, though, is that I will be filing for Chapter 7 in June. The problem is that I have one particular debt to the US Government that is most likely not dischargable in the bankruptcy(but I'm sure going to try). The debt is about 54k, although the government raised it to 69k which apparently they are allowed to do. The debt is listed as in collections on my credit report, and I currently am having my wages garnished by a small amount.

My question is basically, will I be able to get my credit score to respectable levels with the government debt still listed negatively on my credit report post-bankruptcy? It doesn't seem likely that the government will negotiate with me about the debt, based on my conversations with people at the treasury department. It will realistically take me probably 10 years to get the debt paid in full. The only option I can think of right now is to save every cent for 4 or 5 years and offer it to the government as a compromise(according to the girl at the treasury, they do compromise on debt, but only if you can make the payment in one lump sum, which is waaaay out of the question right now).

I was really looking forward to moving on with my life and not having to worry about finding an apartment that will lease to me, or having employers not hire me because of my credit, but the more I think about things, the more I am worried that my credit score will be in the 500's for the next decade. Really getting stressed out.

[Flamingo]

Realize that credit scores mean nothing to some creditors when you have a BK on your credit report. If you file a Chapter 7, that Bk will remain on your credit reports for 10 years from the filing date. If you are prudent with credit and bills during the years after discharge, your score will gradually rise but that does not mean you will be given credit/loans when you apply. Many folks think that once a BK is discharged all is good and grand again for obtaining credit but many find out that is not the case and one is still a credit risk for many years. Time is your friend after filing; pay all bills on time, slowly apply for credit and remember you will get declines. If you apply for too much credit after filing at one time, all those hard inquiries will show on your credit report for two years which does not look good to any potential creditor. And also remember that what you read on here as to happening with one person who files and gets a card or car loan right out of discharge may not happen with you. No one's past credit history, income, etc. is the same.