Filing bankruptcy, whether it’s Chapter 7 bankruptcy or Chapter 13 bankruptcy, is often depicted as a last resort for most people. Because of this, the idea of filing for bankruptcy more than once, let alone multiple times, sounds truly disastrous. But, as Groce & DeArmon, P.C.’s professional team of bankruptcy lawyers and bankruptcy attorneys knows, the finality of filing bankruptcy is something of a myth.
The Groce & DeArmon, P.C. blog is just for informational purposes. If you need professional bankruptcy advice, contact our law firm today.
Is There A Limit?
There is no limit to the number of times you are able to file bankruptcy – unless a court decides otherwise in your specific case. However, there are certain other limits that may be imposed on someone filing who has filed in the past.
You Will Need to Wait
The first limit is time. Depending on which kind of bankruptcy you previously filed for, you will have to wait a certain amount of time before being able to file a new case. We will focus on the two types of bankruptcy we specialize in at Groce & DeArmon: Chapter 7 and Chapter 13.
If you have previously filed for Chapter 7 bankruptcy, you will have to wait eight years in order to file the same type of bankruptcy again. If you have filed Chapter 7 in the past, you will need to wait at least four years to file Chapter 13.
If you need to file Chapter 13 after already filing the same type of bankruptcy once before, you will need to wait at least two years to do so. Filing Chapter 7 after having filed Chapter 13 requires a six-year gap, although there are some exceptions under specific circumstances.
Playing By the Rules
The most important factor in how smoothly any bankruptcy filing goes is how you follow the directions you’re given – both by your bankruptcy lawyer from Groce & DeArmon. Failing to cooperate or keep up with the procedure will just do more long-term damage. It’s especially important to follow instructions if you are filing multiple times due to the complications that can arise if you have previous filings.
Groce & DeArmon, Multiple Bankruptcies, and Protection
As a law firm dedicated to helping people struggling with their finances to navigate the complicated process of filing bankruptcy, Groce & DeArmon, P.C., is here for you. Part of avoiding filing bankruptcy more than once is knowing how to apply properly, and how to plan for what comes afterward. Contact a bankruptcy lawyer for a free consultation today to get the help you need.