Myth: You Can Only File Once for Bankruptcy Protection

     The truth is, you can only file for a Chapter 7 bankruptcy once every 8 years. After 8 years, if need be, you can file a Chapter 7 again. As for filing a case under Chapter 13 of the Bankruptcy Code, there are no such restrictions; you can even file a "Chapter 20," which is a Chapter 7 followed in short order by a new Chapter 13.