When can I file bankruptcy again?
The changes to the bankruptcy law in '05 generally lengthened the interval between cases in which the debtor actually got a discharge.
In the case of the interval between two Chapter 13's, the law, certainly by mistake, provides for an interval shorter than the minimum length of a Chapter 13 plan. Unfortunately, this blunder is sadly typical of the shoddy draftsmanship in the bill.
Prior Case |
New Case |
|
| Chapter 7 | Chapter 13 | |
| Chapter 7 | 8 years | 6 years |
| Chapter 13 | 4 years | 2 years |
A quick glance at the chart shows one reason many bankruptcy lawyers encourage filing Chapter 13: it leaves the debtor better options should financial disaster strike again.
Note that these time periods are calculated from the filing date of the first case to the filing date of the second case, and, count only first cases in which the debtor got a discharge. A case that was dismissed doesn't count for these purposes.
Legal issues and bankruptcy questions are frequently complex and individual. The information contained here is intended to be educational only: it is not legal advice nor does it create an attorney client relationship between the viewer and the firm. You should consult with a bankruptcy attorney licensed to practice in your state for advice about your particular situation. See Law on the Internet
3/6/08