Can I File for Bankruptcy More than Once?

Hard times can happen to anyone as the economy continues to experience dramatic upswings and plunges. If you have filed for bankruptcy in the past then you might be asking: Can I file for bankruptcy more than once?

The answer is Yes, you can file for bankruptcy more than once. But there are limitations on how often your debts can be discharged in bankruptcy as well as waiting periods between repeat bankruptcy filings. The terms for filing subsequent or a second bankruptcy is subject to the different terms laid out based on the type of bankruptcy an individual is filing.

How Long After Chapter 7 Can I File Bankruptcy Again?

When filing for a second case of Chapter 7 bankruptcy, individuals must wait 8 years between a first and second Chapter 7 filing.  

However, if they intend to file for Chapter 13 bankruptcy, then they only have to wait 4 years from the date of your first filing. 

Filing for Second Bankruptcy After Chapter 13 

If you received a Chapter 13 discharge, you will need to wait 6 years before you can file for Chapter 7.

If you wish to file for Chapter 13 again after the first Chapter 13 discharge, you will need to wait 2 years in between cases. 

However, there are a few exceptions to the above:

  • The waiting period may be waived if you paid your unsecured debts in full during your Chapter 13 case. 
  • The court may also waive the waiting period if you paid at least 70% of your claims from your previous Chapter 13, and if your repayment plan was created and completed in good faith. 

Talk to an attorney to discuss whether filing another bankruptcy again is in your best interests.

Serial Bankruptcy Filers

Creditors and courts alike are aware of individuals who continually overspend and try to manipulate the system by discharging debts. If someone is believed to be a serial bankruptcy filer it is likely that they will be ineligible.

Trusted Guidance Through Debt Relief

Bankruptcy can be a saving grace for many individuals who are struggling. It’s a tough decision that requires legal consultation to ensure that each individual files appropriately to meet their needs.

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