The idea that credit will never be available after bankruptcy is foolish when you really think about it. Bankers and creditors are opportunists and they know that many people exiting Chapter 7 bankruptcy are virtually debt free or close to it. Also knowing that this group of people cannot file bankruptcy again for eight years makes them a pretty good risk. I believe the idea of no more credit for bankruptcy filers comes from the debt collection industry. Debt collectors get paid on what they collect and they can keep anyone on the hook for one month longer that might mean one more payment will be paid.