Dismissed BK, settled with creditors and paid off. Now what?

[keitheii]

Since I wasn't eligible for Chapter 7, and I was advised 13 would most likely result in my paying back the full amount plus a trustee fee, I dismissed my case and took it upon myself to settle with my creditors since my attorney was barely responsive to me. Most of my creditors were happy to settle for 50%. I borrowed money from a relative and paid everything off, I have a nice new clean slate with the exception of what's left on my credit report. I'm waiting a few more weeks before I pull a copy of them so I can verify they've been updated with my settlements. I'm concerned about repairing / rebuilding my credit. Some questions:
1. What's the best way to rebuild / repair my credit?
2. I received a pre-approved application from Capital One, I applied just so I can pay for things like gas and pay it off right away to start establishing a payment history. I was approved. Will this help?
3. I'm sure my reports indicate I filed for BK, then dismissed it, and then settled with my creditors.. I'm sure this is killing my score.. Is there anything I can do about these entries or are they there for the next 7-10 years? (Credit repair companies imply they can remove things.. Is it true?)
4. I'm assuming all my creditors are still reporting the number of days delinquent.. If you settle, is there a way to get them to stop reporting that?

Anything else I should know considering my situation which might help repair my credit score?

Thanks as always
-Keith

[LadyInTheRed]

The best way to rebuild your credit is to show you can use credit responsibly over a period of time. Getting a credit card, using it every month and paying it off is a good start. It is best to keep your utilization below 10%. Having more trade lines will also be helpful, so you may want to get another card or two.

Credit repair companies can't really do anything you can't do. There is a lot of information on the internet about steps to take to repair your credit. I saw one forum where members talk about how to get correct negative information removed from credit reports. But, I suspect what they do is technically fraudulent because they are claiming the information is incorrect when it isn't.

Your BK will be on the public records section for 10 years. I have read about people getting that removed. But, again, the methods seemed to be fraudulent because they tell the credit reporting agency that it is somebody else.

My understanding is that creditors don't remove delinquencies when you settle. Some try to make that part of the settlement, but I haven't heard of much success. YMMV.

All of the above is based on what I have read, not personal experience or any knowledge that you can't gain with internet research.