How to avoid bankruptcy for the second time?

Yes. You can file bankruptcy for the second time. But there is a time gap.

If you want to avoid bankruptcy, then follow these tips every month:

• Spend less than what you earn


• Lower your credit utilization ratio


• Pay the full balance on your credit cards

There is a certain limit depending on the bankruptcy type. If you have filed chapter 7 bankruptcy in past and you want to file chapter 7 again, then you should wait 8 years from the date you files the previous case. However, why do you want to file bankruptcy again? You can settle your debts. What is the total debt amount?

For Chapter 7 to chapter 7, you'll need to wait 8 years for the second time.
For Chapter 13 to Chapter 13, at least 2 years gap needed after the date the first case was filed.
For Chapter 7 to Chapter 13, at least 4 years gap needed after the filing date of the first Chapter 7(commonly known as a Chapter 20 bankruptcy)
For Chapter 13 to Chapter 7, you must wait 6 years from the date the first Chapter 13 was filed. But there is an exception. If you have paid all your unsecured debts in the previous Chapter 13, you don't have to wait for 6 years anymore.