Filing for bankruptcy, although it sounds intimidating, is sometimes the best course of action. When debts keep piling up and you can’t find a safe way to stabilize your financial affairs, it’s time to seek professional assistance. With the help of bankruptcy lawyers in Rancho Bernardo CA, you’ll get all the information you need about bankruptcy, as well as reliable counseling you require to get your life back on track.

When can I file bankruptcy again?

Statistics show that up to 8% of debtors filing for bankruptcy have filed at least once before. Taking this fact into consideration, it doesn’t come as a surprise that the question concerning the filing frequency is the one bankruptcy lawyers oftentimes need to address. Also, most debtors often wonder how bankruptcy affects real estate purchase and selling, how bankruptcy changes credit score and if filing Chapter 7 implies giving up a car.

If you have filed bankruptcy in the past, you should know that the period that needs to pass between two filings depends on three factors:

  • The Chapter you filed
  • The previous filing outcome
  • The time of the previous filing

Bankruptcy filing intervals

If your previous bankruptcy case was successfully discharged, here are the timeframes for filing again:

  1. Filing Chapter 7 after Chapter 7: You need to wait at least 8 years before filing Chapter 7 after you already filed it and received a discharge.
  2. Filing Chapter 7 after Chapter 13: You’ll need to wait 6 years unless you already paid off all or 70% of your unsecured debt in Chapter 13 payments.
  3. Filing Chapter 13 after Chapter 7: You will typically have to wait for 4 years between your Chapter 7 discharge and filing Chapter 13 afterward.
  4. Filing Chapter 13 after Chapter 13: The law requires that at least 2 years have passed between two different Chapter 13 filings. As you typically need 3-5 years to complete a Chapter 13 debt repayment plan, this basically means that you can file Chapter 13 right after your previous case under the same Chapter is closed.

How many times can you file bankruptcy?

Although bankruptcy filing frequency depends on previous cases directly, there is no limit to how many times you can file any Chapter if needed. In other words, the law allows you to declare bankruptcy and file Chapters 7 and 13 for as many times as necessary.

How often can you file Chapter 7 bankruptcy?

Filing Chapter 7 bankruptcy is a process you can initiate as many times as you need. The help of your experienced bankruptcy attorney with this matter will prove to be vital in the long run.

The period that will need to pass before re-filing Chapter 7 can range from no waiting time (if your re-filing comes after your previous bankruptcy case was dismissed), 6 years or less (if your previous Chapter 13 case was successfully closed), and up to 8 years (if you’ve already filed Chapter 7 previously, and received a discharge of debts).

Rancho Bernardo bankruptcy experts are here for you

When it comes to filing for any bankruptcy plan, you’ll need patience, valid information, and first-class legal assistance to lead you to the successful outcome you are aiming for. Chang & Diamond APC, your experienced bankruptcy lawyers in Rancho Bernardo, CA, are here to help you find the answers you are looking for, leading the way to the desired bankruptcy discharge and a new life without debt on the horizon.Spend some time with your family and take your kids to San Diego Zoo Safari Park worry-free after we handle your case effectively. Make a list of questions and outline your goals, and then contact our office and schedule your first consultation. Take your life back in your capable hands and let us help you build the debt-free future you deserve.