Well, if you are Donald Trump, you just keep filing bankruptcy. Actually, The Donald never files, just his companies. His casinos have filed multiple times. But, those were all Chapter 11 bankruptcies, like the latest one linked to above.
What about Chapter 7 bankruptcy? Is it one and done?
No, it is not. Under current law, if you received a discharge in a Chapter 7 bankruptcy, you can file again 8 years later. That is, 8 years from filing date to filing date.
That change was made, from the former 6 year limit, effective in October, 2005.
Actually, you can FILE another Chapter 7, but you could not get a discharge of your debts, so there would be no reason.
Among others, I predict a surge in bankruptcies near the end of this year, when that 8 year time limit expires on that splurge of filings that took place just before the 2005 changes. Many thought it would be harder under the new law to file bankruptcy, and there was near panic as lines formed at bankruptcy courts across the country.