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Bankruptcy is one of the worst negative entries you can have on your credit report and will likely remain there for 10 years. From the time you file bankruptcy, your credit score will take a huge hit and you might find it more difficult to get loans or credit card approval for the first few years. But it won't last forever and as your credit report improves with responsible actions towards healthy credit, so will your perceived creditworthiness to lenders and your access to credit.

Credit Karma offers tips about good credit health: http://www.creditkarma.com/article/5StepsTowardsHealthyCredit

Repossession will remain on your credit report for 7 years and will influence how lenders assess your propensity to pay a loan. While getting approved for an auto loan after repossession is possible, you may have to wait a period of time and will probably be offered a high interest rate

You can wait one to two years before trying to finance a new car since lenders will likely charge you an enormous interest rate on an auto loan immediately after repossession. If you can take this time to improve your credit score, you will receive better financing options from lenders in the future. Take steps now to rebuild your credit, such as building good credit through a secured credit card, making regular on-time payments on all your accounts, and paying off any debts

Or you can try to obtain a loan sooner after repossession by applying with a high risk lender or subprime lender, which caters particularly to consumers with poor credit. While you can get an auto loan sooner this way, the tradeoff is that these lenders often carry a much higher rate than an average auto loan. Be sure to compare lenders to find the lowest rate, and in a couple months when your credit score improves, you can try to refinance your loan for a lower rate.

Check out rates at: http://www.creditkarma.com/trends/autonew

"Thin file" means that you have a fairly short or "thin" credit history. In these situations, it can be difficult to accurately provide a credit score since, in essence, there is no past history to score against.

When it comes to a mortgages, it depends on how "thin" your file is. Most likely, you have a pretty good score, but only have a few trade lines open, and for less than 24 months. Most lenders are looking for at least 2 or 3 accounts that have been open for at least 12 months, and have a substantial amount of activity. Some lenders have previously looked at alternate forms of credit, but in today's lending, the underwriters are scrutinizing every detail. There is a chance that if you have solid income, stable job history, significant down payment and additional assets, that you can be approved for a loan.

In order to build your credit file, you should use your credit regularly to pay for everyday purchases and pay them off every month. This will help you build responsible balance and monthly payment history which will bolster your ability to get a loan.