How Often Can You File Chapter 7 Bankruptcy?

How Often Can You File Chapter 7 Bankruptcy?

If you want to file a Chapter 7 now, but you filed a prior bankruptcy, you can file a new Chapter 7 with the following limitations.

 A New Chapter 7 Following A Prior Chapter 7:

  • If you received a discharge in a prior chapter 7, you can file a new Chapter 7 eight (8) years after the filing date of the prior case.   (It was a six year waiting period until 2005).
  • However, if you did not receive a discharge in that case, the prior case does not necessarily prohibit you from filing a Chapter 7 now.  (It is the entry of a Discharge Order in a prior case that is the critical factor.)

A New Chapter 7 Following A Prior Chapter 13:

  • If you received a discharge in that prior Chapter 13 and paid less than 70% of the general unsecured claims in that case, you can file a new Chapter 7 six (6) years after you filed the Chapter 13 case.
  • ]HOWEVER, if in that Chapter 13 case you paid at least seventy percent (70%) of the general unsecured claims (e.g., credit cards, medical bills), then you do not have to wait at all to file a new Chapter 7 case.
  • If you did not receive a discharge in that Chapter 13 case, that prior case does not necessarily prohibit you from filing a Chapter 7 now.

A New Chapter 7 Following A Prior Chapter 13 Converted To Chapter 7:

  •  If you received a Chapter 7 discharge in the converted-to Chapter 7 case, you can file a (new) Chapter 7 eight (8) years after the Chapter 13 filing date.
  • If you did not receive a discharge in that converted-to Chapter 7 case, that case does not necessarily prohibit you from filing a Chapter 7 now.

 

FREE INITIAL CONSULTATION

Yes, this can get a little complicated at times.   But, you do not have to do this alone.  We offer a free initial consultation.   If you wonder is you qualify to file a new case given the fact that you filed sometime in the past, I’ll happily answer the question free of charge.   If you would like to read my article on “How Often Can you File A Chapter 13 Bankruptcy”, here you go.  🙂

We are happy to help.  You know where to find us.

 

 

Comments

  1. One thing that I have never wanted to do is go bankrupt. With that being the case, I’m doing all that I can now to avoid this and stay on good financial terms. I’m grateful for things like this that help people like me figure out how to avoid this kind of stuff.

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