Unfortunately, financial hardships can arise more than once. If you are struggling with debt but you’ve already filed for bankruptcy in the past, you might be wondering if you can file again. The bankruptcy system does allow individuals to file for bankruptcy more than once. However, there are specific guidelines you may need to follow.
Filing for Bankruptcy More Than Once
If you want to file for bankruptcy a second time, there are specific timelines you should follow to get the most out of your bankruptcy. Although the timelines below aren’t set in stone, you should speak to an experienced bankruptcy attorney to determine how long you should wait to file for bankruptcy again under your unique circumstances.
Filing Under the Same Chapter After You Received Discharge
If you filed for Chapter 7 bankruptcy and you want to file the same chapter again, you may need to wait eight years after the first Chapter 7 case you filed.
If you filed for Chapter 13 bankruptcy, you may need to wait two years from the date of filing your previous Chapter 13 bankruptcy.
Filing Under a Different Chapter After You Received Discharge
If you filed for Chapter 13 bankruptcy and now you want to file for Chapter 7, you may need to wait six years from the Chapter 13 bankruptcy filing date before you can file for Chapter 7. However, if you paid at least 70 percent of your unsecured debts (debts like credit cards and medical bills) you might qualify for Chapter 7 at an earlier date.
If you filed for Chapter 7 bankruptcy and now you want to file for Chapter 13, you might have to wait four years from the Chapter 7 filing date before filing a Chapter 13 case.
Contact our Pennsylvania bankruptcy attorneys today at (570) 458-2008 to determine when you can file for bankruptcy again!