Poor financial decisions, recessions or the loss of a job can happen at any time during a person’s life. These times may happen more than once in a person's life and require considering many less than ideal options. Sometimes filing a second bankruptcy is a way to wipe the slate clean once again.
A person can only file Chapter 7 bankruptcy and receive a bankruptcy discharge once during an eight year time period. So, while filing another bankruptcy may be in your future, this eight year time frame must be considered. The eight year time clock starts from the date you filed your previous case, not when the case was discharged or closed. Even if the eighth year is close, you may be up against