How often can someone file for bankruptcy?

  • how often can someone file for bankruptcy

There are many people who have filed bankruptcy more than once.  Some people find that troubling.  But if you’ve ever gone through a bankruptcy, you probably already know that it is often the most effective way to get back on track and may be wondering how often can someone file for bankruptcy?  If you’ve gone through a bankruptcy before and are wondering if you’re eligible to file another bankruptcy, there are some rules to keep in mind.

The below chart shows the waiting periods between different types of bankruptcy if you want to receive a discharge of the debt that is dis-chargeable:

 

Waiting Periods in Bankruptcy

Time Between Filing Dates New Chapter 7 New Chapter 13 New Chapter 11
Previous Chapter 7 8 years from previous case filing date. 4 years from previous case filing date, unless Debtor doesn’t care about receiving a discharge in which case Debtor can file immediately. None
Previous Chapter 13 6 years from previous case filing date, or NONE if previous case paid 100% of unsecured claims or 70% of unsecured claims were paid and plan was in good faith and Debtor’s best effort to pay. 2 years from previous case filing date, unless Debtor doesn’t care about receiving a discharge in which case Debtor can file immediately. None
Previous Chapter 11 8 years from previous case filing date. 4 years from previous case filing date, unless Debtor doesn’t care about receiving a discharge in which case Debtor can file immediately. None

 

There might be other considerations as well, so if you are interested in filing bankruptcy again, please call our office to set up a free consultation. One of our experienced attorneys will guide you through the process.

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