What happens after Chapter 7 bankruptcy? Many people attempt to rebuild their credit once their bankruptcy case is successful. This can certainly be done, but you should be aware that your credit report will show that you filed for bankruptcy for ten years after the fact. Filing for bankruptcy will typically lower your credit score, but after around three years, it should be possible to rebuild your credit and have a fairly decent score. Life after Chapter 7 bankruptcy can eventually mean that you can obtain new credit as easily as you did before filing for bankruptcy. However, this is probably not going to happen right away. It will take some patience as well as adhering to a tight budget, and you may have to pay higher interest rates the first couple of years before you can re-establish your credit and be what lenders consider a "good credit risk". You can usually count on an entire new credit history after Chapter 7 bankruptcy.