How many years between bankruptcy can you file again?

Answer 1

You cannot file a Chapter 7 case for 8 years from the filing date of any prior Chapter 7 or Chapter 13 that received discharge. You can file a Chapter 13 at any time after a prior case. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks!

Answer 2

We receive many questions on this topic and have compiled the commonly needed info in this one general answer:

It isn't a number of times..it's defined by type of BK and years in between.

It is a FEDERAL law (and a special FEDERAL court system exclusively for Bankruptcy), basically under the same rules everywhere, State lines being irrelevant to FEDERAL matters. (Some districts of this court allow special definitions for things in the case, basically to conform to the customs and laws of the area they generally hear cases in).

However, there are task forces that are looking for those people who, even within the allowed time frame, seem to file often...and they are looked at and may be denied protection if it appears they are abusing the process.

Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago.

The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.

NOTE THE ABOVE ARE DISCHARGE DATES

Many ask how the time frames can be shortened because they are in need. BK is always done by people in severe hardship...it really isn't for anyone else and until recently, was to be a once in a lifetime break. Hardship issues will not change the time required under the law.

CORPORATIONS: Frequently file under Chapter 11 - (a reorganization) - there are virtually no restraints to how many times or length of time between filings of this type, although the Court must agree that there is a benefit and possibility of a re-organization instead of a dissolution.

While a debtor must wait the times noted above, if the prior C-7 filing did not result in a discharge, but rather a dismismal (the difference in terms is important - dismissal basically means it wasn't completed for some reason), it can be re-filed only 180 days from the prior case's dismissal. When to file bankruptcy is an intricate and delicate matter that should only be determined after discussion with an experienced bankruptcy attorney and qualified financial advisor. There are many other factors to consider.