Yes, it’s possible to file for bankruptcy again, even if you’ve previously filed for bankruptcy. However, there are limitations on how soon you can file for bankruptcy again and receive a discharge of debts, depending on the type of bankruptcy previously filed and the type you’re considering now. Here’s a general overview:
Chapter 7 to Chapter 7: If you previously filed for Chapter 7 bankruptcy and received a discharge, you must wait at least eight years from the date of the previous filing to file for Chapter 7 again and receive another discharge.
Chapter 7 to Chapter 13: If you previously filed for Chapter 7 bankruptcy and received a discharge, you must wait at least four years from the date of the previous filing to file for Chapter 13 bankruptcy and receive a discharge. However, you may be eligible to file for Chapter 13 sooner if you’re seeking to reorganize your debts rather than discharge them.
Chapter 13 to Chapter 7: If you previously filed for Chapter 13 bankruptcy and received a discharge, you must wait at least six years from the date of the previous filing to file for Chapter 7 bankruptcy and receive a discharge.
Chapter 13 to Chapter 13: If you previously filed for Chapter 13 bankruptcy and received a discharge, you must wait at least two years from the date of the previous filing to file for Chapter 13 bankruptcy again and receive another discharge. However, you may be eligible to file for Chapter 13 sooner if you’re seeking to reorganize your debts rather than discharge them.
It’s essential to consider the timing restrictions and eligibility requirements when contemplating whether to file for bankruptcy again. Additionally, filing for bankruptcy multiple times may have implications for your credit history and financial situation, so it’s advisable to consult with a qualified bankruptcy attorney to understand your options and make informed decisions based on your specific circumstances.
