Second Time Around: Filing Bankruptcy a Second Time
Although it is not encouraged, a debtor may file for Chapter 7, Chapter 13 or a combination of the two more than once. However, unlike the first time, there will be a minimum waiting period between the first and second filing. If you are a debtor who has previously filed for Chapter 7 and received a discharge from the court, you would need to wait a minimum of 8 years before filing for another Chapter 7 and a minimium of 4 years before filing for Chapter 13. Conversely if you previously filed for Chapter 13, you must wait at least 6 years before filing for Chapter 7 and at least 2 years before filing for another Chapter 13.
Repeat bankruptcies are not fun but are sometimes necessary. Make sure you get it right this goround with an experienced and knowledgeable law firm. Contact the Fears | Nachawati Law Firm today.