Absolutely! No part of the bankruptcy process, whether it’s you, your business, or both of you filing, will prohibit you from starting a new business, acquiring new assets, or getting new debt. You can even use similar names or even the same name once it becomes available again!
Most importantly, your new businesses will be free of any obligations held by the previous business that filed for bankruptcy. Creditors of your old business can’t go after your new business if it ends up taking off and becoming successful.
While there are no legal prohibitions on starting a new business, if you plan on taking out a loan to start a new business, that future lender is allowed to consider the past and that may affect whether they approve a new loan or what terms they include with a new loan. Often times a future creditor may want you to co-sign for a new business to cover what they may see as added risk. Smaller lenders, like local credit unions, sometimes hold grudges.