I just went through this, though I had a colonoscopy only about 3-4 years ago. I saw bright red blood on the toilet paper in January and I went to a GI doc in the practice I go to. He said he wasn't worried but, right there at the appointment, he used an anoscope (what a name!) to look inside (only goes a short distance) and said everything looked fine, just a small hemorrhoid. The procedure, if you can even call it that, was ultra-easy and not uncomfortable at all. He said if the bleeding continued to come back and he could do a sigmoidoscopy which would look at the areas that would cause bright red blood. If it's further into the GI tract then the blood looks blackish/dark. Mine was bright red. But I didn't, and haven't, seen the blood again. In any case, the doctor wasn't worried at all. He said he'd take a look to ease my mind, not because he thought I really had anything really wrong.
You could always go to a GI and they'll tell you what needs to be done to check it out. Usually bright red blood is nothing to worry about - especially if you have a history of hemorrhoids.