Have you previously filed for Chapter 7 or Chapter 13 bankruptcy? Are you wondering how soon you can file for bankruptcy again? Here are some of the main things you should know about filing for bankruptcy more than once. Bear in mind every situation is unique and you should sit down with a bankruptcy attorney to review your options instead of needlessly suffering from your debt pressures.
You may want to wait before filing again.
The first thing you should understand is that you technically do not have to wait to file for Chapter 13 bankruptcy again. Bankruptcy law does not set any minimum time for you to wait before filing. You may, however, wish to wait before filing because how long you wait could affect whether or not you receive another discharge. However if there is an immediate need to file there are strategies with a Chapter 13 where you can immediately file then dismiss and refile later when you are eligible for a discharge. Filing again too soon after receiving a previous discharge of debts could result in you not receiving another discharge if you are not properly advised.
So how long do you have to wait before filing again?
The answer: It depends on which types of bankruptcy you have filed previously—and which type of bankruptcy you are filing now.
Filing under the same bankruptcy chapter
Chapter 7
When filing successive Chapter 7 bankruptcy cases, you must wait eight years from the date your first case was filed before filing again. If you file a second Chapter 7 case within that eight year time frame, you will not receive a second discharge.
Chapter 13
When filing successive Chapter 13 bankruptcy cases, you must wait 2 years from the date your first case was filed before filing again, if you completed the first 13. If you file a second Chapter 13 case within that two year time frame, you will not receive a second discharge.
Filing under different chapters
Chapter 7 after Chapter 13
When filing a Chapter 7 case after having received a discharge from filing a Chapter 13 case, you must typically wait six years from the date your first case was filed before filing again.
Chapter 13 after Chapter 7
When filing a Chapter 13 case after having received a discharge from filing a Chapter 7 case, you must wait four years from the date your first case was filed before filing again.
Sometimes not waiting to file can be advantageous.
The above information should tell you that in most cases, it is in your best interest to wait out the designated time period before filing again. However, sometimes it does make sense to file for bankruptcy again before the designated time period has passed. The most common scenario here is “Chapter 20” bankruptcy, which is when you file for Chapter 13 bankruptcy immediately after receiving a discharge from a Chapter 7 bankruptcy case. In this case, you can have unsecured debts discharged and then potentially catch up on mortgage payments through the Chapter 13 case.
If you did not receive a discharge in your first case, you may not have to wait.
Maybe you did not receive a discharge after filing for bankruptcy the first time. If your case was dismissed, then chances are you do not have to wait before filing again. Sometimes, however, the courts will say otherwise, or you may have to wait 180 days before filing again, depending on the reason for dismissal.
When filing for bankruptcy more than once, it is best to talk with an attorney. The world of bankruptcy law is highly complex, and there are many exceptions involved that lie beyond the scope of this article.
Contact us today to speak with an attorney on the phone or to set up an appointment.
