We are often asked by clients who have previously filed for bankruptcy (and are having financial problems again) how long they must wait to file for bankruptcy again to receive a discharge of the client’s debts.
Here are some general rules:
If you need to file a Chapter 7 Bankruptcy: You cannot receive a discharge in a new Chapter 7 Bankruptcy if you received a discharge in a prior Chapter 7 Bankruptcy filed within eight (8) years of the filing date of the new Chapter 7 Bankruptcy. If the prior filing was a Chapter 13 Bankruptcy, the prior Chapter 13 Bankruptcy must be reviewed to determine how long you must wait to file a Chapter 7 Bankruptcy.
If you need to file a Chapter 13 Bankruptcy: You cannot receive a discharge in a new Chapter 13 Bankruptcy if you received a discharge in a prior Chapter 7 Bankruptcy filed within four (4) years of the filing date of the new Chapter 13 Bankruptcy; or received a discharge in a prior Chapter 13 Bankruptcy filed within two (2) years of the filing date of the new Chapter 13 Bankruptcy.
I know this sounds complicated. The attorneys at Bailey & Gunderson with offices in Norwood, Western Hills and Anderson Township can explain how these rules apply to you. Please give us a call at 631-0022 if you should have any questions.
