Can I File Bankruptcy Twice - How Often Can You File for Bankruptcy?

You might have needed to file bankruptcy in the past and now you may be in debt and wondering if you can file bankruptcy again. The answer depends on what Chapter of bankruptcy you are planning to file and how long has it been since you last filed for bankruptcy or got a discharge. It is important that you know what Chapter of bankruptcy you filed and how long ago so that you can determine if you can qualify to file bankruptcy again.The following information applies only if you obtained a discharge in the previous case. If you did not obtain a discharge in your previous bankruptcy case then none of these time limits apply.

If you have filed bankruptcy in the past then the bankruptcy code allows you to file for bankruptcy again in the following situations.

If the Previous Case That You Filed Was A:

Chapter 7 Bankruptcy -

• File Chapter 7 Bankruptcy Again- If the case that you previously filed was a Chapter 7 bankruptcy then you can file for Chapter 7 bankruptcy protection, 8 years after you filed your previous Chapter 7 bankruptcy. If 8 years have passed since you filed for Chapter 7 bankruptcy then you can file Chapter 7 bankruptcy again. If 8 years have not passed since you filed your Chapter 7 bankruptcy case then you can choose to wait or consider Chapter 13 bankruptcy. If you file prior to the 8 years then your case will be denied a discharge.

• File Chapter 13 Bankruptcy After a Chapter 7 Bankruptcy -You can file for Chapter 13 bankruptcy protection anytime after you Chapter 7 bankruptcy. You should keep in mind that If you file for Chapter 13 bankruptcy within 4 years of you Chapter 7 bankruptcy case then you will not receive a discharge of your debts (credit cards, medical bills, & personal loans). In order for you to qualify for a discharge of you unsecured debt in the Chapter 13 bankruptcy case, you must wait at least 4 years from the date your Chapter 7 bankruptcy case was filed. You may be thinking why would anyone file a Chapter 13 bankruptcy within 4 years if they will not get a full discharge. The reasons for doing this may include that you will have a low monthly payment plan to repay your creditors, you are protected from creditors during this time, you may need it to pay your past due taxes or student loans,or to remove a second mortgage from your home.

If the Previous Case That You Filed Was A:

Chapter 13 Bankruptcy

• File Chapter 7 After a Chapter 13 Filing.- If you file a Chapter 7 bankruptcy after you have obtained a discharge in a Chapter 13 bankruptcy then your debts unsecured debts may not be discharged. In order to obtain a discharge in the Chapter 7 bankruptcy , the Chapter 7 bankruptcy must have been filed 6 years after you filed a Chapter 13 bankruptcy or if you file within 6 years, you must have paid your unsecured creditors not less than 70% of the debt you owed them. This means that if you need to file Chapter 7 bankruptcy within 6 years of your Chapter 13 bankruptcy filing, you will not get a discharge if you did you pay at least 70% to your unsecured creditors.

• File Chapter 13 Bankruptcy After a Chapter 13 Bankruptcy-If you file a Chapter 13 bankruptcy within 2 years of getting a Chapter 13 discharge then your unsecured debts will not be discharged. You will still be responsible for debts such as credit cards, medical bills, personal & personal loans if you file Chapter 13 bankruptcy within 2 years of getting a Chapter 13 bankruptcy discharge.

Although there are time limits before you can file another bankruptcy case and get a full discharge, there are no limits specifically set as to how many times you can file for bankruptcy protection. I have had clients who have needed to file for bankruptcy protection up to 3 times in their life. Although you never want to be in a situation where you may need to file bankruptcy again, you need to consider it if your debt is out of control.

For more information on bankruptcy go to: Southern California Law Advocates