If you have been caught in another cycle of debt, you may be pondering the idea of filing for Chapter 7 bankruptcy again. Although there are certain requirements you must meet in order to file, there is no limit as to the number of times you can file for bankruptcy.
How soon can I file for bankruptcy again?
Although there is no set amount of how many times you can file for Chapter 7 bankruptcy, there are limits on how soon you can file for bankruptcy again. These restrictions will vary based on your previous bankruptcy filings and the type of filing you have had.
- Chapter 7 to Chapter 13: consumers are eligible to file for Chapter 13 bankruptcy after four years from the date of filing of your Chapter 7 bankruptcy. This is commonly referred to as Chapter 20 bankruptcy.
- Chapter 7 to Chapter 7: If filing for another Chapter 7 bankruptcy, you must wait eight years before filing for Chapter 7 again.
- Chapter 13 to Chapter 13: In the case of filing for another Chapter 13 bankruptcy, you may file immediately after the closing of your previous Chapter 13 bankruptcy case.
- Chapter 13 to Chapter 7: In order to file for a Chapter 7 bankruptcy following a Chapter 13 bankruptcy, the usual wait is six years. However, consumers are eligible to file if they have paid off anywhere from 70 to 100 percent of their debts.
If your previous bankruptcy was dismissed, you may be disqualified from filing for future bankruptcies for an extended period of time. To prevent your bankruptcy from being dismissed, consumers should work with a qualified bankruptcy lawyer to ensure that no errors are made in filing.
Many consumers who choose to file bankruptcy for themselves without the assistance of an attorney have their case dismissed. A single error in your bankruptcy filing can be cause for dismissal.
Although filing for bankruptcy can be complicated, it can ultimately provide that debt relief consumers need. If you are buried under a mountain of debt and ready for a fresh start, CrediReady can help.
Our nationwide network of trusted and experienced lawyers are prepared to give you a FREE bankruptcy consultation. Take a moment to fill out our inquiry form today to speak with your FREE local attorney and get the help you need today.