How Often Can You File Bankruptcy?

The kind of bankruptcy previously filed determines the amount of time between each case of bankruptcy. The date commences when the prior case is filed with the courts. The date of discharge does not come into play. Read on to learn more.

Chapter 7 Bankruptcy: 8 Years

This is the longest length of time legally required. Chapter 7 offers the fastest debt relief methods and does not require a plan of repayment before being discharged.

Chapter 13 Bankruptcy: 4 Years

While it is permissible to file Chapter 13 shortly following a Chapter 7 discharge, the person filing will not be allowed to obtain a Chapter 13 discharge in the second situation. However they can file Chapter 13 so tax debts as well as other outstanding debts may be paid off.

Chapter 7 Bankruptcy: 6 Years

This can be waived when one hundred percent of your creditors have been paid back and the original case was completed in good faith. As a Chapter 13 repayment plan can take up to five years to complete, you can file Chapter 7 within about twelve months following a Chapter 13 discharge.

Chapter 13 Bankruptcy: 2 Years

When you have previously filed Chapter 13 and obtained a discharge, there is at least a two year gap before you may file again. However the minimum repayment plan length is three years. Although it is possible to receive a discharge sooner if there are hardships that have not been forecast.

Continued Chapter 13 filings are sometimes utilized to manage tax debts or student loan payments as those debts are unable to be discharged.

Can A Bankruptcy Attorney Help Me File Bankruptcy Sooner?

Although they cannot help you skirt the time limits they may assist in helping you file a different kind of bankruptcy should you meet the criteria. For example, if you filed Chapter 7 and were unable to obtain a discharge. They can also assist in obtaining an order from the court making sure your automatic stay will not expire prior to the discharge being entered.

Source: https://upsolve.org/learn/how-often-can-you-file-bankruptcy