Filing for Bankruptcy a Second Time
If you have previously filed for consumer bankruptcy , can you file for bankruptcy again? According to an article in the Wall Street Journal , both individuals and businesses often become repeat filers of bankruptcy, and some commentators believe that someone must be to blame when a party files for bankruptcy more than once. Should bankruptcy courts be concerned about serial filers? Or should we think about multiple bankruptcy filings as actions that often are necessary for debtors to become financially healthy and reliable consumers? Serial Filing in Bankruptcy Court What is a serial filer, exactly? When you hear about serial filing, it refers to individuals or businesses who are repeat—or in some cases chronic—bankruptcy filers. In other words, serial filers are parties who seek bankruptcy protection more than once. However, filing for bankruptcy on more than one occasion doesn’t necessarily mean you are a serial filer. Although some repeat filers will file again in f...