Most who file for bankruptcy never plan on doing it again. They leave my office planning on being debt free for the rest of their lives. As you know that is easier said then done. Due to job loss, health issues and other events some find that they are back where they started.
Fortunately bankruptcy isn’t a one time deal. If you qualify and meet certain time requirement you may file again and receive a another discharge of your debts.
The amount of time you have to wait depends on the date you first filed, what type of bankruptcy you previously filed and what type of bankruptcy you intend to file.
If you previously received a Chapter 7 discharge, you must wait 8 years before you can receive another Chapter 7 discharge and 4 years before you can receive a Chapter 13 discharge.
If you previously received a Chapter 13 discharge, you must wait 2 years before you can receive another Chapter 13 discharge and 6 years before you can receive a Chapter 7 discharge.
There are some exceptions to the above rules. You should seek the advice of a bankruptcy attorney regarding your specific situation.
If you think that you need to file bankruptcy again contact me today to schedule a free consultation. I will answer all of your questions in plain English and give you the pros and cons of bankruptcy as related to your specific situation.