Filing for bankruptcy is a legal process available to individuals whose debts have become unmanageable. If you’ve taken advantage of this option in the past but find yourself overwhelmed by debt again, you might be wondering how soon you can file for bankruptcy a second time. The answer depends on the type of bankruptcy discharge you have received and which type you are currently seeking.
How Many Times Can You File for Bankruptcy in Florida?
There is no limit to how many times you can file for bankruptcy. However, you should speak to an experienced bankruptcy attorney to discuss the best way to proceed in your specific situation.
How Long Do You Have to Wait to File Bankruptcy Again?
If you have applied for or were granted bankruptcy in the past, the amount of time you have to wait to file again will vary according to your situation.
If you received a Chapter 7 discharge, you must wait eight years from your previous filing date to file again.
If you have recently applied for Chapter 7 bankruptcy, you may seek a Chapter 13 bankruptcy without any waiting period. This process allows individuals to eliminate their unsecured debt and then, upon discharge, restructure their secured debt.
If you received a discharge in a previous Chapter 13 filing, you must wait at least two years from the filing date of the previous case to seek another Chapter 13 bankruptcy. Because a Chapter 13 case usually takes three to five years to complete, most individuals are eligible to file again after receiving a discharge.
You can also re-file immediately if the court dismissed your previous Chapter 13 filing. However, you must demonstrate to the judge that your current financial circumstances permit you to complete the payment plan.
If you wish to file Chapter 7 after a Chapter 13 discharge, there is no waiting period if you paid back 100 percent of the claims as part of your previous Chapter 13 case. The court also may permit the filing of a Chapter 7 case without delay if you made a good-faith effort to pay off debt under the repayment plan and paid back at least 70 percent of the claims.
You may be required to wait six years to seek a Chapter 7 discharge if less than 70 percent of the claims were paid in your prior Chapter 13 case.
Are There Any Legal or Financial Consequences to Filing Bankruptcy Numerous Times?
If you file for Chapter 13 bankruptcy twice within 12 months, the automatic stay on your debt collections will only apply for 30 days. In these circumstances, you must file a Motion to Extend the Automatic Stay.
No automatic stay will apply if you file for Chapter 13 more than twice within 12 months. You must file a Motion to Impose Automatic Stay. In such cases, the assistance of a qualified Florida bankruptcy attorney is essential.
Contact the Bankruptcy Lawyers at Loan Lawyers for Help
Whether this is your first time filing for bankruptcy or you need help filing again, the seasoned foreclosure defense, debt defense, and bankruptcy attorneys at Loan Lawyers can help you pursue a brighter financial future. Our attorneys focus on finding the best financial solution for each client we represent, including options outside of the bankruptcy spectrum. Call Loan Lawyers today or contact us online for a free consultation to learn more about all the solutions available before filing for bankruptcy.
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Loan Lawyers is made up of experienced consumer rights attorneys who use every available resource to develop comprehensive debt solution strategies. Our goal is to take on those burdens, resolve those problems, and allow our clients to sleep soundly knowing they are on the path to a better future.
