An experienced bankruptcy attorney has seen firsthand that most people who file do so as a result of unforeseen circumstances, like medical emergencies or a job loss. Medical debt is the number one cause of personal bankruptcy in America.; unfortunately, individuals who experience one medical emergency are often more vulnerable to additional health concerns in the future.

Repeating the cycle of financial devastation is not uncommon. If you want to file for bankruptcy a second time, turn to O’Neill Law Firm, LLC in La Crosse, WI, to discuss your options.

Ask a Bankruptcy Attorney: How Often Can I File?

If You Filed Chapter 7 Bankruptcy in the Past

In general, there is no limit to how many times you can file for bankruptcy; however, there are limitations regarding how soon you can file after discharging or reorganizing your debt. If you filed for chapter 7 the first time and received a discharge of your debt, you must wait eight years from the date you filed the first case to begin the process again.  If you wish to file chapter 13 bankruptcy the second time around, instead of a 7, you must wait four years after you filed the Chapter 7 before you can do so; this combination is often called chapter 20 bankruptcy.

If You Filed Chapter 13 Bankruptcy in the Past

If you filed chapter 13 in the past, and you want to reorganize your debt again, you must wait at least two years to file for a second chapter 13 bankruptcy. If you want to discharge your debt through chapter 7 bankruptcy the second time around, you must wait at least six years from that date on which you filed chapter 13 to do so; however, you may file sooner if you have paid back at least 70% of your unsecured debt.

If you are considering filing for bankruptcy a second or subsequent time, turn to O’Neill Law Firm, LLC to determine if you are eligible to do so. Visit their website to learn more about hiring a DUI attorney or divorce lawyer from their firm, and call (608) 519-3551 to talk to a bankruptcy attorney in La Crosse, WI, today.