Can I file for bankruptcy more than once?

Many people have heard the myth that you can only file for bankruptcy once in your life. This is not true; you are legally allowed to file multiple times. As of 2005, however, the amount of time you must wait between bankruptcy filings has increased as outlined below:

• 8 years between Chapter 7 (liquidation) filings
• 2 years between Chapter 13 (reorganization) filings
• 4 years between a Chapter 7 and a Chapter 13 filing

In addition, you are only allowed to file for Chapter 7 bankruptcy three times in your life. You may file for Chapter 13 bankruptcy as many times as you would like, provided that you wait the specified period of time between incidents.

To speak with a qualified Austin bankruptcy attorney, contact the offices of Slater, Kennon & Pugh Ltd.LLP, at 512-338-1100.