I Filed Chapter 7 in 2010 When Can I File Again
In a Nutshell
You can file bankruptcy as many times every bit you need to, but you usually take to look between filings. The waiting menses depends on several factors, including whether the initial bankruptcy case was dismissed or discharged, what affiliate you filed in the commencement case, and what affiliate you plan to file in your second bankruptcy instance.
Unfortunately, filing for bankruptcy once doesn't make yous immune from fiscal troubles for a lifetime. If you've filed for bankruptcy protection before and you lot're considering filing again, you'll need to know about the filing rules and time limits. You can file more than one bankruptcy in a lifetime just there are rules about how oftentimes yous tin can file. You'll too want to consider all of your debt relief options and know how a second bankruptcy case will affect your fiscal well-being. This article explores all of these considerations.
Is It Legal To File for Bankruptcy Twice?
It'southward legal to file every bit many defalcation cases as necessary, simply there are rules well-nigh how often you lot tin can file. The U.S. Bankruptcy Code regulates multiple case filings, how long a filer must expect, and other specifics that we'll encompass in detail below.
The mandatory waiting period between filings depends on several factors, including:
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The result of your first defalcation case: If you received a defalcation belch for your first case, the waiting period before you can file again is different than if your previous case was dismissed without discharge.
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The type of defalcation you filed before: Individuals and families generally file either Chapter vii or Affiliate xiii bankruptcy. The time limits earlier yous're allowed to file again differ depending on the affiliate of your previous filing.
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The chapter of bankruptcy you file the 2nd time: The waiting period betwixt defalcation filings is affected by both the affiliate of the previous bankruptcy and the chapter y'all plan to file in the subsequent case.
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The corporeality of fourth dimension that's passed since the filing date of your first example.
What's the Mandatory Waiting Period Between a First and Second Defalcation Filing?
Under bankruptcy law, people can file for defalcation more than once to get the fresh beginning they deserve. The mandatory waiting menses between bankruptcy cases depends on whether the first bankruptcy case was successfully discharged, whether your first bankruptcy case was a Chapter 7 (liquidation instance) or a Affiliate 13 (reorganization with repayment plan), and what chapter of bankruptcy your second filing will be.
Successful Discharge of First Bankruptcy Case
The two chief types of personal defalcation are Chapter 7 and Affiliate thirteen. Most individuals and families file Chapter vii bankruptcy. This is the quickest course of defalcation. It's as well known as a liquidation defalcation, though the majority of filers get to keep nigh or all of their belongings.
It makes more sense for some people to file for Chapter xiii bankruptcy. Under Chapter thirteen, your debts are reorganized and you pay on a repayment plan that lasts three to five years. This has benefits that Chapter 7 doesn't.
Filers receive a bankruptcy discharge at the cease of a successful Chapter 7 or Chapter thirteen bankruptcy example. The discharge is a bankruptcy court order that erases certain debts and ways lenders can't ever legally endeavor to collect on discharged debts once more.
The following outlines when you can file bankruptcy again and exist eligible for a 2d discharge. The clock starts ticking on the appointment you filed your starting time bankruptcy, non the date of discharge.
Filing Chapter seven Subsequently Chapter 7
Yous must look viii years betwixt Affiliate 7 bankruptcy cases. To receive a second discharge, yous must wait eight years from the appointment you lot filed your first successful Chapter seven instance until you tin file your second Affiliate 7 instance.
Filing Chapter seven After Chapter 13
You must wait vi years between filing a Chapter xiii case and filing a Affiliate 7 case. This timeline starts on the date you filed your first successfully discharged Affiliate thirteen case. Once six years laissez passer, you lot tin can file a 2nd bankruptcy case under Chapter 7. The six-year waiting menstruation can be waived if yous paid all of your unsecured creditors in full during the initial Chapter 13 bankruptcy payment programme. Unsecured debts include credit card debt, medical bills, and other debts not secured or backed up past property.
Filing Chapter xiii After Filing Chapter seven
You must wait iv years to file a Affiliate 13 bankruptcy case after filing a Affiliate seven case. This iv-year waiting period simply applies if you lot're hoping to receive a second discharge of debt in your 2nd bankruptcy filing.
In some instances, it might make sense for a person to file a Affiliate 13 bankruptcy afterward receiving a discharge in a Chapter seven but before the iv-year waiting period has passed. This is because Affiliate thirteen bankruptcy requires y'all to follow a payment plan to repay your debts. This can help y'all to grab up on missed payments.
As soon every bit you file bankruptcy, creditors must end all collection activity against you lot considering of the automatic stay. This means that filing for defalcation can stop a foreclosure, at to the lowest degree temporarily. A Chapter 7 defalcation can stop a foreclosure while a person is in bankruptcy, but if yous want to keep your house yous have to make your monthly payments and catch up on any missed payments.
A Affiliate thirteen bankruptcy includes a repayment plan that allows you to brand upwardly any missed mortgage payments over a three-to-five-yr repayment plan. During this repayment programme, generally, your house can't exist foreclosed. This is why some people file Chapter thirteen even though they're not seeking to have their debts discharged. In this case, it wouldn't be necessary to await four years betwixt filings.
Filing Chapter thirteen Subsequently Chapter thirteen
You must wait two years between Chapter 13 bankruptcy cases. To receive a second discharge of debts in Chapter 13, yous must look ii years from the filing appointment of your first successfully discharged Affiliate 13 case until the filing date of your second Chapter 13 instance.
All waiting periods between bankruptcy filings are calculated from the filing date of the starting time example, not the discharge date.
Beginning Bankruptcy Case Not Discharged
In that location is a departure between a bankruptcy case that'due south discharged and 1 that's dismissed. If your first defalcation instance was dismissed, you didn't receive a discharge so yous may be able to file a second bankruptcy case immediately. When a bankruptcy example is dismissed without a discharge, it means that none of the filer's debts are erased and they're still obligated to pay back their debts.
Defalcation cases can be dismissed if:
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Yous don't appear at a required bankruptcy hearing, including the 341 meeting of creditors.
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You neglect to file all necessary documents properly and on time or fail to pay required bankruptcy filing fees.
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Y'all don't pay the required Chapter 13 plan payments.
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You aren't truthful in your defalcation filing.
Depending on the reasons your case was dismissed, you lot may be able to file for bankruptcy protection again right away or you may need to expect before filing again. Nether the Bankruptcy Code, you must wait 180 days to re-file a bankruptcy case if your beginning case was dismissed by the bankruptcy court for not following the court'due south orders or appearing before the courtroom when required.
You may besides need to wait 180 days before filing a second bankruptcy case if you asked for a voluntary dismissal of your first defalcation case after one of your creditors filed for relief from the automatic stay. This ways that a creditor formally asked the courtroom to allow them continue collection action against you even though you filed for defalcation protection.
When people file a second defalcation case after a first case is dismissed, the court will evaluate if the bankruptcy was filed in proficient faith. Skillful organized religion means that you lot're not trying to accept reward of the bankruptcy process. For example, if your commencement instance is dismissed for failure to pay the necessary filing fee, it'southward generally okay for you lot to file a second case immediately as long equally you pay all necessary fees in the 2d example.
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Is Information technology a Good Idea To File Bankruptcy a 2d Time?
Filing for defalcation is a powerful debt relief tool. You'll need to look at your fiscal state of affairs to decide whether filing a 2nd defalcation case is a good idea for you or not. Filing for bankruptcy will harm your credit score and negatively touch on your credit written report, at to the lowest degree in the brusque term. A Affiliate seven bankruptcy volition stay on your credit report for 10 years from the filing date and a Chapter 13 defalcation for seven years.
While bankruptcy can harm your credit, not filing can also be harmful due to missed payments, outstanding debts, and lawsuits for unpaid debts. If you're facing a second bankruptcy subsequently many years have passed, it's of import to explore why y'all're in this state of affairs again. Then take steps to ensure your fiscal well-existence moving forward.
In some cases, it's a adept strategic financial move to file a 2nd defalcation later a successful belch. For instance, you may do good from filing a Chapter thirteen after a Chapter 7 discharge to ready a repayment plan to pay off past-due mortgage payments to save your firm, grab upwards on child support arrears, or pay revenue enhancement debts that were too new to be discharged in your Chapter vii defalcation case. In the case of child back up arrears or dorsum taxes, filing a Chapter thirteen second defalcation could help you avoid wage garnishment and stretch out your repayment plan over three to 5 years. There are many valid benefits to filing a second defalcation case.
Calumniating Bankruptcy Filings
The defalcation court looks closely at cases that may be abusing the bankruptcy process. An abusive bankruptcy filing could be a Chapter 7 filer that fails the means test. It could as well apply to cases where an individual is inappropriately using the bankruptcy process to avoid paying back a debt, avert a creditor, or buy fourth dimension in a collection activity, such as a foreclosure or awaiting lawsuit for unpaid debt.
The court frowns upon people who abuse the defalcation process or who accept no intention of post-obit through with their defalcation instance. People who file multiple cases are more heavily scrutinized by the bankruptcy courts. Repeat filers may lose some of the benefits of bankruptcy protection. For case, the court may deny their discharge or revoke the automatic stay, which stops collection action.
If You lot're Seeking a Second Financial Fresh Beginning, Become Professional Help
Filing defalcation tin be circuitous — filing successive bankruptcies tin can be difficult, confusing, and financially dangerous if you don't plan well. An experienced bankruptcy chaser can aid guide you. Defalcation attorneys are well-versed in the pitfalls of defalcation and multiple filings, the advantages bankruptcy offers, and court requirements. Many defalcation lawyers offer complimentary consultations.
Many people who are struggling with debt starting time their debt relief journey with credit counseling. Pre-defalcation credit counseling can help y'all evaluate all of your debt relief options, including bankruptcy, debt consolidation, debt settlement, and other debt management options that may be right for you. Debt relief solutions are never one-size-fits-all. You demand to know what'south best for you lot given your financial state of affairs.
Let's Summarize…
Information technology's possible to file bankruptcy every bit many times equally you need to, merely you normally need to look between filings. The waiting menstruation depends on whether the initial bankruptcy instance was dismissed or discharged, what chapter you lot filed in the showtime instance, and what chapter you plan to file in your second bankruptcy example. Defalcation can exist a complex process, and information technology tin exist helpful to hire a bankruptcy attorney to help you navigate the process.
Bankruptcy is a powerful tool to help y'all get your finances back on rails. Merely the goal is to avoid having to file multiple bankruptcy cases. So if you detect that you lot're facing financial hardship over and over, it may be time to explore ways to prevent financial difficulties before they happen.
Source: https://upsolve.org/learn/file-bankruptcy-twice/
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