People facing financial issues often choose to file for bankruptcy as the chance to discharge debts and start a new life. But what if your new life gets plagued by more debt and you need additional help? How often can you file for bankruptcy in Dalton GA? Here’s an answer from professional bankruptcy attorney Jack Setters.
Unless a personal bankruptcy court orders otherwise, there are no restrictions on the number of bankruptcy cases you can file. Yet if your financial obligations were released in a previous bankruptcy, you need to wait a specific period of time before you will certainly be qualified to a discharge once again. Whether you could file another bankruptcy and also get a discharge relies on:
– the type of bankruptcy you filed previously and desire to file now
– whether your previous personal bankruptcy was dismissed, or discharged
– when you filed for the previous bankruptcy case.
Though you can file for bankruptcy unlimited amount of times, there are distinct time limits to discharge your debt. Time limitations on when you are eligible for one more discharge rely on whether you formerly got a Chapter 7 or Chapter 13 discharge and also the type of bankruptcy you want to file currently.
Chapter 7 to Chapter 7. If you have actually currently gotten a discharge in a Chapter 7, you have to wait 8 years from the date you submitted the previous case before you could file one more Chapter 7 and receive a discharge.
Chapter 13 to Chapter 13. If your financial debts were discharged in a previous Chapter 13 case, you could not obtain a discharge in a succeeding Chapter 13 unless it is filed at the very least two years after the day the initial situation was submitted. Because it usually takes three to five years to finish a Chapter 13 repayment plan and obtain a discharge, you could generally declare an additional Chapter 13 as well as be qualified for a discharge immediately after your very first case is closed.
Chapter 7 to Chapter 13. If your initial discharge was under Chapter 7, you can file for a subsequent Chapter 13 as well as be qualified for a discharge if the case is filed at the very least four years after the filing date of the first Chapter 7. But bear in mind that filing a Chapter 13 bankruptcy after getting a Chapter 7 discharge can still assist you pay off top priority debts or obtain caught up on missed mortgage or car loan payments also if you are not qualified to a discharge. Declare Chapter 13 bankruptcy adhering to a Chapter 7 discharge is frequently described as a Chapter 20 bankruptcy.
Chapter 13 to Chapter 7. Ultimately, if you got a discharge in a previous Chapter 13 bankruptcy, you must wait 6 years from the date the Chapter 13 was filed before you could declare as well as get a discharge in a subsequent Chapter 7 situation. However there is an exception to this guideline. The six-year regulation does not use if, in the previous Chapter 13, you repaid:
– all your unsecured debts, or
– at least 70% of your unsecured debts and your your plan was proposed in good faith and your best effort.
If Your Previous Bankruptcy Was Dismissed With Prejudice
Your case can be dismissed with prejudice if you don’t obey court orders or abuse the bankruptcy system. However, such decision doesn’t mean you can never file again. But bare in mind that the court can impose temporary restrictions on when you can file, such as placing a 180-day restriction. Once the restriction is lifted, you can file again.
In cases where you abused the bankruptcy system, the time frame can last more than 180 days, or the court could permanently deny you the ability to file.
If you have questions about bankruptcy and how often you can file, do not hesitate to contact Jack Setters. We will work with you to determine the best options in your situation.