Both chapters 7 and 13 have specific requirements which determine how often a debtor can file for bankruptcy, which differ depending on which chapter has been previously filed. These requirements are only enforced if in your previous case you received a discharge. For both chapters there is a rule prohibiting those who attempted to file for bankruptcy within the past 6 months and had their case dismissed from attempting to file again. For debtors interested in filing for chapter 7 but have previously filed a chapter 13 bankruptcy there is a 6 year waiting period that can be exempted if the initial chapter 13 plan was a 100% plan or a 70% plan made in good faith with the debtor’s best efforts applied. For debtors interested in filing for chapter 7 who have previously filed a discharged chapter 7 bankruptcy, there is an 8 year waiting period. For debtors interested in filing for chapter 13 who have already previously filed a chapter 13 bankruptcy there is a 2 year waiting period from the date of filing. Since most chapter 13 plans take 3 years to complete, there is the possibility of filing another chapter 13 bankruptcy the day you receive your discharge for your first chapter 13 bankruptcy. Finally, for debtors interested in filing for chapter 13 who have previously filed chapter 7 bankruptcy, there is a 4 year waiting period before you would be permitted to file.
To better understand if filing for bankruptcy is the right action for you, it is recommended you set up a consultation with a local bankruptcy attorney.
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