How Many Years Between Bankruptcies Can You File

Chapter 11 and 12.

How many years between bankruptcies can you file. You should be able to file for chapter 7 or chapter 13 without the time limit between your filings being an issue. Chapter 13 follows a different criteria. Chapter 7 to chapter 13. Bankruptcy law does not limit the number of times a person can file only the amount of time between filings.

If you file chapter 13 four years after filing chapter 7 you can have a very low monthly chapter 13 payment plan and receive a full discharge of all remaining balances after you complete the. Filing under different chapters. Two years must elapse between filing dates before you ll be entitled to receive a second chapter 13 discharge. Two years must elapse between the two filing dates to receive a discharge in chapter 13.

You may however file a chapter 13 bankruptcy and receive a discharge after a successful chapter 7 case after waiting only four years. This opportunity for a fresh financial start comes at a cost in legal fees and damage to your credit score. Chapter 13 before chapter 7. The order matters here are the waiting periods when a second bankruptcy case is a different chapter than the one you received your first discharge in.

Chapter 7 bankruptcies must have eight years between the discharge date and new filing. Because a chapter 13 repayment plan usually takes three to five years to complete you ll likely be eligible for a second discharge after finishing the first case. If you had one prior bankruptcy case pending within the previous 12 months that was dismissed you could probably file a second case but the automatic stay will last for only the first 30 days of the latter case. Following a chapter 7 or 11 discharge you must wait eight years before filing.

In the 25 years from 1980 to 2005 personal bankruptcy filings rose significantly. One case pending within 12 months. Filing bankruptcy will remain on your credit report for seven years if you choose to file chapter 13 or ten years if you decide to file chapter 7. That means you re well past the point of time required between your first and second discharge.

If you previously filed a chapter 12 of 13 however you must only wait six years after discharge. Yesner notes that occasionally you can file a motion for chapter 13 bankruptcy sooner than four years after a chapter 7 bankruptcy and that this scenario is a lot more common than people think. This process can make it difficult to obtain a mortgage or car loan in the future.