Often times when people file bankruptcy the need to do so again later in life arises. However, there are strict rules in place about the type and how often a bankruptcy case can be filed. It is important to know these rules, so you can plan accordingly, and make every effort to have a successful case the first time around. Having a successful first case will help you to avoid the need to refile, because the hope is your finances improve not only by the filing but also by the financial education received during the bankruptcy process.
The rules on refiling bankruptcy cases are as follows:
- You have to wait eight years to file a Chapter 7 if you have already received a discharge in another Chapter 7 case.
- If you have participated in a Chapter 13 in the past, you cannot file a new Chapter 13 for two years from the date the first case was filed.
- You are allowed to file a Chapter 13 four years after receiving a discharge in a Chapter 7.
- The waiting period for filing a Chapter 7 after completing a Chapter 13 is six years.
These time limitations can cause a real hardship if you are again facing financial difficulty. And, these rules are the same in every state. While it is true many local bankruptcy courts have their own set of rules and procedures, the law governing the process as a whole is the same and is mandated by federal law. There are exceptions to the above general rules, so if your finances are such that bankruptcy is the only answer it is well worth your time to talk with a knowledgeable bankruptcy and debt management attorney to find out if your case would fall within one of the approved exceptions. We have experience helping people get out of debt, and finding solutions that are allowed. Call our office today for an analysis of your case, and learn your options.
For more information about bankruptcy, contact us at www.DsouzaLegalGroup.com. We will help by coming up with solutions that work for you.