Having a previous bankruptcy discharge on your record can make filing a second time extremely complicated. The experienced lawyers at The Gil Law Firm in Dothan, AL, have been providing superb legal services to individuals in the area for more than 15 years, and understand that bankruptcy is sometimes necessary more than once. As their expert team of attorneys explains here, there are strict time limits that may cause your petition for debt relief to be rejected, so attention to detail is key.
Chapter 7 and Chapter 13 bankruptcies each have different time frames for filing successive bankruptcy charges:
- Chapter 7: If you've previously discharged your debts under a Chapter 7, you'll have to wait eight years from the initial date of filing to file a new petition.
- Chapter 13: For successive Chapter 13 bankruptcies, the mandatory period is two years between the filing of the first cases.
However, even more complex rules apply if you're trying to file bankruptcies of two different chapters. For example, the order in which you file becomes extremely important. If you initially received a discharge under a Chapter 13, the court will not approve any Chapter 7 filed within six years of the first case, unless:
- All unsecured creditors were fully paid in the original bankruptcy; and
- At least 70% of your total debts were paid.
If you first received a Chapter 7 bankruptcy, there is a 4-year time frame on filing for a Chapter 13.
There are still benefits to filing successive bankruptcies, even if you won't receive a debt discharge. The Gil Law Firm has the extensive legal expertise and commitment to help you find solutions to even the most difficult legal and financial situations; contact them today for answers to any bankruptcy questions by calling (334) 673-0100 or visit their website to learn more and schedule a consultation today.