It surprises many people to learn that there really is no limit to how many times they can file for bankruptcy protection. Now, filing for bankruptcy constantly is probably a bad idea in the long run, but it is important to know what your options are and what kinds of limitations the court can place on your bankruptcy filings. A Bergen County bankruptcy lawyer can guide you through this process, whether it’s your first time filing or you’re already quite familiar with how this all works.
Can I File for Bankruptcy Multiple Times?
You can file for bankruptcy multiple times. You can file for Chapter 7 bankruptcy multiple times. You can also file for Chapter 13 bankruptcy multiple times. In some cases, you can file both types of bankruptcy back-to-back.
You may not always be able to get your debts discharged if you just keep trying bankruptcy though. There are also some limitations to when you can file for bankruptcy again if you have successfully had debts discharged.
How Long Do I Have to Wait to File for Bankruptcy Again?
How long you have to wait between bankruptcy proceedings can vary depending on which type of bankruptcy you filed for. So filing for Chapter 7 means:
- You can file for Chapter 7 again in eight years
- You can file for Chapter 13 in four years
Filing for Chapter 13 bankruptcy means that:
- You can file for Chapter 7 in six years or after you have completed your payment plan
- You can file for Chapter 13 in two years
Is There a Point to Filing for Different Chapters of Bankruptcy?
In some cases, you can file both types of bankruptcy back-to-back in what’s sometimes referred to as “Chapter 20” bankruptcy. Both types of bankruptcy can be used to address different debts.
For example, you can file for Chapter 7 to pay off unsecured debts. Then you can file for Chapter 13 to make a payment plan that would allow you to pay off back taxes and other debts that cannot be addressed through Chapter 7 bankruptcy.
Do I Need an Attorney?
It can be helpful to have an attorney on your side even if you have gone through this before. A lawyer can help you figure out which bankruptcy option is right for you. They can guide you through every step of the process, from filing to the discharge of your debts. This can be a tough process to handle on your own, but our law firm is ready to assist you.
Talk to a Bankruptcy Lawyer Today
If you want to learn more about your options and whether or not filing for bankruptcy is a good idea in your situation, contact the Law Office of Boyd & Squitieri. Schedule your initial consultation with our team and get ready to tell us more about your finances and your plans for the future.
