Bankruptcy will be on an individual’s credit report for 10 years after the date of the bankruptcy discharge.  However, if individuals are in a situation where bankruptcy is appropriate, chances are their credit is not good anyway.  Bankruptcy affords individuals a way to get a clean slate and re-establish their credit.  All creditors are aware of the bankruptcy code.  Many Creditors extend credit to individuals that have filed bankruptcy because the creditor knows that a person discharged from bankruptcy may not file a Chapter 7 case for 8 years after discharge and may only file a Chapter 13 (which would allow for the Creditor to be potentially re-paid some amount) in certain other circumstances.  An individual that is discharged from bankruptcy has less debt than those who are struggling to pay their bills under high interest rates, late fees and overlimit fees.