Some people may mistakenly think that bankruptcy is a one-shot deal: that once you file for bankruptcy, that is the only chance you get. However, this is incorrect. There is no limit to the number of bankruptcy filings you can go through. But there are time limits between your filings.
If you file for Chapter 7 bankruptcy and have debts discharged through the process, then you are unable to file for another Chapter 7 bankruptcy for eight years. For Chapter 13, in general you are not allowed to file if you have previously filed for Chapter 13 bankruptcy within the last two years or filed for a Chapter 7 bankruptcy within the last six years. Some people don't need to file for bankruptcy more than once -- but many people who fall on hard financial times once fall upon those times again.
Imagine someone with a serious medical incident, one that makes them rack up a massive amount of medical debt. They may need bankruptcy just to get by, but even then there could be long term medical bills and costs associated with their medical incident. As a result, they continue to rack up medical debt over time. In these cases, multiple bankruptcy filings could be necessary.
No one truly wants to file for bankruptcy multiple times. However, sometimes necessity overrides desire. If you are in dire financial straits and are in need of another bankruptcy filing, talk with an attorney. At McBride Law, we can review your case and help you moving forward.