Oct 16

How Long Do I Have To Wait To File Bankruptcy?

How Long Do I Have To Wait To File Bankruptcy?
Encino Bankruptcy Wait Times

Although less than 10% of all bankruptcy filers have filed before, the issue arises frequently enough to be a fairly common question. In 2005, Congress passed the Bankruptcy Abuse and Consumer Protection Act of 2005 (BAPCPA) which introduced sweeping changes to the bankruptcy code. One of the major changes was extended wait times between bankruptcy filings. Bankruptcy is a complex area of law and analyzing whether a repeat Debtor is eligible for a discharge should be done by experienced bankruptcy attorneys. At the Bodie Law Firm, our Encino bankruptcy attorneys can provide you with a thorough analysis of your bankruptcy eligibility at no cost.

The formula for repeat filers depends upon what type of case they filed previously. The rules for filing subsequent bankruptcies are:

  1. If you filed a previous Chapter 13 bankruptcy case and you obtained a discharge, then you must wait at least two years before filing a subsequent Chapter 13 bankruptcy to be eligible to get another discharge of debt.
  2. If you filed a previous Chapter 7 bankruptcy case and you obtained a discharge, then you must wait at least four years before fling a subsequent Chapter 13 bankruptcy case to be eligible to get another discharge of debt.
  3. If you filed a previous Chapter 13 bankruptcy case and you obtained a discharge, then you must wait at least six years before filing a subsequent Chapter 7 bankruptcy case to be eligible to get another discharge of debt.
  4. If you filed a previous Chapter 7 bankruptcy case and you obtained a discharge, then you must wait at least eight years before filing a subsequent Chapter 7 bankruptcy case to be eligible to get another discharge of debt.

If those rules sound confusing, it’s OK. That’s what our Encino bankruptcy attorneys are here for – to make complex bankruptcy issues seem simple. Here’s a quick summary:

  1. Chapter 13 to new Chapter 13, at least two years wait time.
  2. Chapter 7 to new Chapter 13, at least four years wait time.
  3. Chapter 13 to new Chapter 7, at least six years wait time.
  4. Chapter 7 to new Chapter 7, at least eight years wait time.

All of the dates above are filing date to filing date.

If you have filed bankruptcy previously and are considering filing again, contact our experienced Encino bankruptcy lawyers today for a free consultation and we can analyze your eligibility. Don’t forget you can find Bodie Bankruptcy Law on Facebook, Twitter and G+!

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