Filing bankruptcy is typically something that most people never imagine they may need to do; however, due to unforeseen circumstances such as job loss, death, divorce or an illness, you may need the debt relief provided by the bankruptcy process. Unfortunately, some individuals find themselves in a situation where they need the assistance of the bankruptcy system again. In these cases, they need to file bankruptcy again to resolve another debt problem.
What Do You Need to Know Before You File Bankruptcy Again?
You can file bankruptcy again whenever you choose; however, you cannot receive another discharge if you file bankruptcy again within a certain period of time. The goal of filing bankruptcy is to receive a discharge of your debts. If you file bankruptcy again and do not receive a discharge, the bankruptcy filing does not serve its intended purpose because you still owe your debts. However, you can file bankruptcy again and receive a full discharge if you wait the required time between bankruptcy filings.
If you file bankruptcy again after filing a Chapter 7 case, you must wait eight years from the filing date of the previous Chapter 7 case to file another Chapter 7 bankruptcy in order to be eligible to receive another discharge. If you file a new Chapter 7 bankruptcy case within eight years, your discharge will be denied and you will continue to be legally liable for your debts. You can file a Chapter 13 bankruptcy following a Chapter 7 case; however, you must wait four years from the date of the previous Chapter 7 case to receive a full discharge of your unsecured debts.
If you file bankruptcy again after filing a Chapter 13 case, you must wait six years from the date of the Chapter 13 filing to file a Chapter 7 bankruptcy case to receive a full discharge of your debts. You may be eligible to receive a full discharge if you file within the six-year period if you paid your unsecured creditors a certain percentage of debts. A bankruptcy attorney would need to review your previous Chapter 13 plan to determine if you could file within six years and still receive a discharge under Chapter 7. To file a new Chapter 13 bankruptcy case and receive a full discharge, you would need to wait at least two years from the date of filing of the previous Chapter 13 case to receive a discharge under the new bankruptcy case.
Contact an Experienced Mount Holly Bankruptcy Attorney
Personal Approach, Professional Service, Affordable Payment Plans
The Law Office of Travis J. Richards, LLC is a full-service Mount Holly bankruptcy law firm focused on Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, debt consolidation, credit repair, tax liens, student loans and foreclosure. We represent clients in Burlington County and throughout South Jersey.
If you are experiencing financial problems due to debt, contact our office at 609-267-5297 to schedule your free consultation to discuss bankruptcy and non-bankruptcy alternatives. You may also use our convenient online contact form and one of our friendly, professional staff members will contact you to answer your bankruptcy questions and/or schedule a free consultation with Travis J. Richards.
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