How often can you file bankruptcy/
You Can File Bankruptcy as Often as You’d Like, But…
While you can file bankruptcy as many times as you like. However, “wiping away” debts and getting a fresh start through the bankruptcy discharge is the primary goal of most debtors. The question therefore is not really “how often can you file for bankruptcy?” as much as it is how often can you receive a discharge of debts through bankruptcy?
Chapter 7 Bankruptcy Discharge Every Eight Years
Once you have already filed for chapter 7 bankruptcy, the bankruptcy court will deny a discharge in a subsequent Chapter 7 case if you already received a discharge in your previous chapter 7 or chapter 11 case if it was filed within the last eight years. In simple terms, you can obtain a chapter 7 bankruptcy discharge every eight years. The eight year time period starts to run from the date your previous case was filed.
Previous Chapter 12 and 13 Bankruptcy Discharge
The bankruptcy court will also deny a Chapter 7 discharge if the debtor has previously received a discharge in a Chapter 12 or Chapter 13 case filed within the last six years unless the debtor meets fairly strict requirements regarding the amount of debt she paid back in her chapter 13 case. Similarly, a debtor is ineligible for a second discharge under Chapter 13 if he or she received a prior discharge in a Chapter 7, 11, or 12 case filed within four years of the current case or in a Chapter 13 case filed within two years of the current case.
Bankruptcy Discharge Can Be Revoked
Additionally, bankruptcy courts may revoke a discharge under certain circumstances. For example, a trustee, creditor, or the U.S. trustee may request that the court revoke the debtor’s discharge in a Chapter 7 case based on allegations that the debtor obtained the discharge fraudulently. Typically, a request to revoke the debtor’s discharge must be filed within one year of the discharge or, in some cases, before the date that the case is closed. The court will decide whether such allegations are true and, if so, whether to revoke the discharge.
Complaints Seeking Revocation of Discharge Will Require Retaining Counsel
Keep in mind that the mere filing of an adversary proceeding (a lawsuit filed in the bankruptcy court) seeking to revoke the discharge will require hiring an attorney to answer the allegations of imporoper conduct. If these allegations are not addressed in a timely fashion, the debtor will lose their discharge by default. The possibility that a bankruptcy discharge can be revoked highlights the importance of full disclosure to your bankruptcy attorney. You must inform your bankruptcy attorney of all assets and debts in order to ensure that your discharge is not subsequently challenged.
I file bankruptcy in 2005 and was given a discharge, now do to financial issue my debt has built up, wonder what can I do?
Chrisie, we can’t provide legal advice here on NBF, just general information. I’d recommend consulting with an attorney in your area to see what your options are.
Chapter 7 bankruptcy is a great option for many people. It wipes away most debts and gives consumers a fresh start. For most consumers who are deeply in debt, filing bankruptcy may be the best thing they can do to help themselves. Post-bankruptcy, they can thrive instead of merely survive.
I fall in the category of only being 7 years since my Chapter 7. Since then, I have been put on permanent disability for MS and other medical issues that do not allow me to work. I understand that my Social Security payments are safe from garnishment, but what about once they are in the bank? This is my sole source of income which is 50% of what I was making while I was working in 2005. I have to wait another year to file Chapter 7, I am just scared one of the creditors can take the money deposited into my account from SSD.
Darren, I would contact your bankruptcy attorney to discuss the laws in your jurisdiction. Thanks for the comment.
I had a chapter 7 discharged on 6/19/03. Due to divorce i filed chapter 13 on 12/6/07 and it was discharged on 7/29/11. I got into some financial trouble and was stupid w/payday loans. How soon can you file a bankruptcy and would it be 7 or 13?
Christie,
Due to the numerous filings, it would probably be best to direct the question to a local bankruptcy lawyer.
My only debts are back income taxes, federal and state. would a bankruptcy filing get the irs to make a payment plan with me or an offer in compromise with me?
Filing bankruptcy is unlikely to help get an offer in compromise approved by itself, but depending on the age of your taxes and the state of your returns, you may be able to wipe out the tax debt in bankruptcy. Take a look at this article: http://nbf.wpengine.com/chapter-7-bankruptcy/discharging-state-and-federal-tax-debt-in-bankruptcy/
I filed a Chapter 13 May 2003 that was discharged April 2008.
Due to illness which has since led to 100% disability, I was forced to medically resign my job of 10 1/2 years in February 2012. The only income I have is Social Security Disability and I have a Credit Card debt to my prior employer of $9000.00 as well as a small balance on a personal loan.
I also have a large outstanding personal loan and car loan to another creditor. I will be 65 years old in December.
What are my options?
Sherryl, We’re sorry to hear about your situation, it sounds difficult. To best explore your options, you’ll want to meet with a local lawyer. To request a consult, visit this page of our site: http://nbf.wpengine.com/case-evaluation/
My husband and I filed bankrupcy and discharged 2008, reason we filed was we were seperating and it seemed like the most sensible thing to do at the time. Well before discharged we decided to get back together and reaffirmed on out house. Well 6months later my husband had a heart attack and wasn’t able to go back to work. Therefore, we moved and rented our house out. Well that went to heck, not paying rent and upkeeping payments. Now its like 6months behind and they are foreclosing on it. What can I do?
Tracey, you should meet with a local attorney who is familiar with the deficiency laws in your state to determine whether you have any exposure in th event of a collection action.
I filled for bankruptcy chapter 7 in 2008 can I file another chapter 7
No, if you received a discharge in 2008.
if I filled and received a discharge in july of 2006 how long do I need to wait to file again and can I file before the eight year period is up,
You are eligible to file again and receive a discharge as a result of the filing eight years after your first case was filed. If you filed previously in March of 2006, you can file again March of 2014. Hope this helps.