Personal Bankruptcy Time needed between bankrupcy filings

[AMeyers]

I was looking under the topic entitled Bankrupcy Question, and there was a response from Micheal that said a debtor cannot file bankrupcy multiple times. What is the time that must lawfully pass before a debtor can file a bankrupcy if all debts were not within the first filing and it has already been discharged?

 

[Michael Wechsler]

Originally posted by A. Meyers
I was looking under the topic entitled Bankrupcy Question, and there was a response from Micheal that said a debtor cannot file bankrupcy multiple times. What is the time that must lawfully pass before a debtor can file a bankrupcy if all debts were not within the first filing and it has already been discharged?

What are you asking? Is it the time frame from the first filing until you can file for bankruptcy again? My understanding is that you must wait 6 years to file for bankruptcy again or if your bankruptcy was dismissed, you must usually wait at least 180 days to file again.

 

[oliverosobrien]

Under section 727 of the bankruptcy code, an individual cannot obtain receive a discharge of debts if the debtor has (1) received a chapter 7 or chapter 11 discharge within the six years preceding the filing of the petition or (2) has received a chapter 12 or chapter 13 discharge in a case that paid less than 70% to the allowed unsecured creditors and was filed in the six years preceding the filing of this petition.

So if you filed a chapter 7 on February 19, 2004. You would be eligible for a discharge so long as the prior chapter 7 or chapter 11 case resulting in discharge was filed prior to Feb 18, 1998. If you filed a chapter 12 or 13 after Feb. 18, 1998 you may still be able to get a discharge in the new chapter 7 IF you paid 70% of the allowed secured claims in your prior case.

Good Luck!

 

[Michael Wechsler]

Originally posted by oliverosobrien
Under section 727 of the bankruptcy code, an individual cannot obtain receive a discharge of debts if the debtor has (1) received a chapter 7 or chapter 11 discharge within the six years preceding the filing of the petition or (2) has received a chapter 12 or chapter 13 discharge in a case that paid less than 70% to the allowed unsecured creditors and was filed in the six years preceding the filing of this petition.

So if you filed a chapter 7 on February 19, 2004. You would be eligible for a discharge so long as the prior chapter 7 or chapter 11 case resulting in discharge was filed prior to Feb 18, 1998. If you filed a chapter 12 or 13 after Feb. 18, 1998 you may still be able to get a discharge in the new chapter 7 IF you paid 70% of the allowed secured claims in your prior case.

Good Luck!

Thanks Michael!