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Can Someone File for Bankruptcy More Than Once?

If you are struggling with overwhelming debt, you may be considering bankruptcy as a way to get a fresh start. But can you file for bankruptcy more than once? Luckily the answer is yes! Our Colorado bankruptcy teams discuss why someone might file for bankruptcy multiple times, the time limitations, and what step you should consider next.

Why Would Someone File Bankruptcy More than Once?

There are a few reasons why someone might have to file for bankruptcy more than once. The most common reason is that the debtors' circumstances change after their first bankruptcy, and they find themselves in over their heads again. This can happen because of:

  • job loss,
  • medical bills,
  • or other unforeseen expenses.

Another reason people might have to file for bankruptcy more than once is that they did not receive a discharge in their first bankruptcy. This can happen for a few different reasons, including:

  • not completing the required credit counseling courses,
  • not providing all of the necessary documentation to the court, or
  • incurring new debt after filing for bankruptcy.

How Often Can Someone File for Bankruptcy?

The answer to this question depends on the type of bankruptcy you are filing. There is no specific legal limit on the number of times you can file for bankruptcy in Colorado. Generally, you can only file for bankruptcy once every eight years.

Below is the time that must pass in between each filing:

  • Chapter 7 after Chapter 7: 8 years
  • Chapter 7 after Chapter 13: 6 years
  • Chapter 13 after Chapter 7: 4 years (most common situation)
  • Chapter 13 after a Chapter 13: 2 years (most rare situation)

Wagner Law Office, P.C. Can Help If You Need to File Bankruptcy Again

If you are considering filing for bankruptcy again, it is important to speak with an experienced bankruptcy attorney. Wagner Law Office, P.C. can help! We have a team of dedicated and knowledgeable attorneys who can help you navigate the process and ensure that you take the best possible course of action for your unique situation.

Contact us today for a consultation by calling (303) 536-5124 or through our website.