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How Many Times Can I Declare Bankruptcy?

Curious As To How Many Times You Can File Bankruptcy?How many times can I declare Bankruptcy?

Personal finance is not an exact science and income is never guaranteed, folks fall on hard times and you never know how often that may be. If you have filed for bankruptcy in the past, you may have hoped that it would be the first and last time.

You may have worked hard to build your credit back up and maintain it and suddenly find yourself in a situation that you have no control over.  Employment changes, bill increases, emergency spending, and a whole host of other circumstances may be preventing you from keeping up with your financial obligations.  The good news is that there is always a solution and bankruptcy may be the one that is the most helpful for you.

Having already filed a previous bankruptcy, you will already be prepared to get your paperwork, credit reports, credit reports, bills and statements in order. You have been down this road before and while you may feel that this is negative, the fortunate end of the road is that you likely already know what to expect.

Whether you file the same form of bankruptcy that you previously filed, or whether there is a more beneficial form of bankruptcy available for you will depend on any changes bankruptcy law, contrasted with the type of bankruptcy that you need now., The only distinction in the process will be which chapter bankruptcy you decide to file.  A bankruptcy attorney can help you understand the different options and help you decide which bankruptcy is best for this filing.

Bankruptcy Filings And Time Period You Must Wait To Refile:

  •  A Chapter 7 discharge in your history will require a waiting period of 8  years from the date of your previous filing in order to refile another Chapter 7 Bankruptcy.
  • A Chapter 13 discharge in your history will require a waiting period of at least 2 years from the date of your previous filing in order to be able to file a subsequent Chapter 13 bankruptcy.

Always consult with a Bankruptcy Attorney who can give you detailed information of the rules and or restrictions for refiling and keep in mind that if any of your bankruptcies were dismissed with prejudice, you may be precluded from refiling.

Call or contact our office today for immediate assistance.

 

 

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