Did you file bankruptcy several years ago but need to file again? If so, you are not alone. Many people find themselves burdened with new debts years after filing bankruptcy. These people didn’t plan on filing bankruptcy again, but life is unpredictable and experiencing another financial crisis can happen to anyone. The Bankruptcy Code recognizes that and allows multiple bankruptcy filings, but imposes a waiting period between filings for debts to be discharged.
Minimum Time Between Filings To Be Eligible For A Discharge
Multiple Chapter 13 Filings – If you previously filed chapter 13 bankruptcy and received a discharge, you must wait two years before you can file another chapter 13 bankruptcy and be eligible for a discharge. With that said, it would be unusual to file chapter 13 bankruptcy twice in less than 2 years since chapter 13 plans take 3 to 5 years to complete.
Chapter 7, then Chapter 13 – If you filed chapter 7 bankruptcy and received a discharge, you must wait four years before filing chapter 13 bankruptcy to be eligible for a discharge.
Chapter 13, then Chapter 7 – IF you filed chapter 13 bankruptcy and received a discharge, you must wait six years before filing chapter 7 bankruptcy to be eligible for a discharge.
Chapter 7, then Chapter 7 – If you filed chapter 7 bankruptcy and received a discharge, you must wait eight years to file another chapter 7 bankruptcy and receive a discharge.
If you filed bankruptcy before but think you need to file again, call bankruptcy lawyer Adam Garcia for a free consultation. He can tell when if you’re eligible for a discharge should you file again.