Can you file for personal bankruptcy multiple times?

On Behalf of | Feb 10, 2024 | Bankruptcy

Bankruptcy can be a welcome relief when you are struggling with debt. If you have filed for bankruptcy before, and you are caught up in debt again, you might be wondering if you can walk down this road again.

The simple answer is, YES, you can file for bankruptcy more than once. Many highly successful people filed multiple times before they found success, so it’s not something you should feel ashamed about. Sometimes life can deal you some tough blows, that you simply cannot afford the cost of. However, there are some time limits regarding how frequently you can file so you may need to exercise a little patience

Time restrictions for declaring bankruptcy

The amount of time you have between bankruptcies depends on which type you hope to file for and which type you previously filed for.

  • You can file for Chapter 7 bankruptcy eight years after a previous Chapter 7 discharge, or six years after a Chapter 13 discharge.
  • You can file for Chapter 13 bankruptcy four years after a Chapter 7 discharge, or two years after a previous Chapter 13 filing.

It’s important to understand that these stipulations are put in place to prevent abuse of the bankruptcy system, not to deter people with a genuine need for help to get out of financial problems.

You can file for personal bankruptcy multiple times as long as you take the applicable time restrictions into account. This underpins the importance of keeping the paperwork of your previous applications. Find out how proper legal counsel can help you safeguard your rights and interests while seeking debt relief through personal bankruptcy.