Bankruptcy often provides a way for consumers to begin again. It can provide a fresh financial start that allows consumers to regroup and plan for a better financial future. Given the state of the economy over the past few years, it is not at all surprising that consumers have been forced to file bankruptcy in order to get their finances back in order. Some lose their jobs and cannot continue to pay their debts while others simply let spending get out of hand and find themselves buried in credit card debt that they cannot possibly repay.

There is absolutely nothing wrong with having to file bankruptcy, provided you are not simply spending with the intention of never paying back your creditors. Some consumers find a fresh financial start with bankruptcy and then find themselves in debt again a few years later. If and when this happens it is perfectly legal to file bankruptcy more than once but you have to consider a few things.

You will not be permitted to file bankruptcy again for at least seven years if you have filed a Chapter 7 bankruptcy. Because a Chapter 13 bankruptcy allows you to pay back most of your creditors, you do not have to wait to file a Chapter 7 if you have just been discharged from a Chapter 13. This is all very confusing to many consumers and often retaining an attorney is the best way to ensure that you are legally and wisely controlling your financial future.

Bankruptcy is designed to help consumers who have absolutely no other way of repaying mountains of debt. It is not to be used for those who spend freely and then simply do not want to pay back their debts. If you cannot pay back your creditors, a bankruptcy may be the best way to get out from under debt. Speaking with an experienced attorney will help you to determine if this is the right path for you.

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