What is the Christian take on reincarnation?

What does the Bible say about reincarnation? (as in after making mistakes in this life you are given another chance in the next life). As far as I know it is not a Biblical thing(since the dead are asleep until Christ will come again), but a co-worker strongly believes that Christianity supports it and I was looking for some resources that might help in this matter. I'm mostly interested in the New Testament but Old Testament verses can help as well. Thanks