How Long You Have to Wait to File Again
Although
bankruptcy provides a fresh start for many, it can be hard for some to stave off
debt for good. Fortunately, you are not limited to filing for bankruptcy
just once. Federal bankruptcy laws do not set a limit on the amount of
time that you are required to wait before filing again, but there is a
limit on the amount of time that you must wait before the bankruptcy court
will be able to discharge your debts.
For this reason, it is important to understand the time frame, or time
frames, that apply to your specific case. Otherwise, filing for bankruptcy
the second time around could be a waste of your time and money. The amount
of time that you will be required to wait depends on two things: the bankruptcy
chapter under which you filed the first time and the chapter under which
you intend to file the second time.
Filing for Bankruptcy Under the Same Chapter
If you have already filed for
Chapter 7 or
Chapter 13 bankruptcy, and you intend to file under the same chapter the second time
around, the time limitations that apply to your case will be as follows:
-
Successive Chapter 7 cases: you must wait at least eight years
-
Successive Chapter 13 cases: you must wait at least two years
Filing for Bankruptcy Under a Different Chapter
If you have already filed for Chapter 7 or Chapter 13 bankruptcy, and you
intend to file under a different chapter the second time around, the time
limitations that apply to your case will be as follows:
-
Chapter 13 to Chapter 7: you must wait at least six years
-
Chapter 7 to Chapter 13: you must wait at least four years
Discharging Your Debt Isn’t Always the Goal
One of the main benefits of filing for bankruptcy is that an automatic
stay will go into effect as soon as you file. This would protect you against
further collection efforts and lawsuits—including debt collections,
repossessions,
foreclosures and wage garnishments. This gives debtors the breathing room necessary
to get back on their feet. As a result, discharging debt is not always
the end-goal in a bankruptcy case.
Even if you don’t qualify for a discharge of debt because of timing
issues, you may still be interested in the protections that the automatic
stay has to offer. However, you should also understand that the automatic
stay would only last for 30 days if you have already filed for bankruptcy
once in the previous year. Furthermore, if you have filed more than once
in the previous year, an automatic stay would not be granted at all.
What if I didn’t receive a discharge in the first case?
If your debts were not discharged in the first bankruptcy case, you should
be able to file again without having to wait; however, different action
may be required if your case was denied, rather than dismissed. For example,
if your original case was denied, you may not be entitled to a discharge
of debts from the first case—which could render your second attempt futile.
If your case was dismissed for a failure to obey the court or a failure
to appear, you may be required to wait 180 days before filing again. Whatever
the circumstances may be, it is highly recommended that you seek the guidance
of a Phoenix bankruptcy lawyer from Leonard V. Sominsky, ESQ., PC. Our
firm has helped more than 1,000 individuals discharge their burdensome
debts through bankruptcy.
Have questions about your case? Learn more about your options today by
scheduling a
free initial consultation with our firm!