Filing bankruptcy more than once is possible, but different timelines and restrictions apply. This post covers how soon a Chapter 13 can be filed after a Chapter 7, and how long to wait before filing a Chapter 7 after a Chapter 13.
Frequently Asked Questions
Can I file bankruptcy more than once?
Absolutely. There are different timelines in place and different restrictions that were put into place as part of BAPCPA, which is the Bankruptcy and Consumer Protection Act. If you file a Chapter 13 and you’ve previously filed a Chapter 7, there’s no restriction on how soon after the original Chapter 7 you can file the Chapter 13, but there is a limitation if you want to get a discharge.
If you want to have your debts discharged in the Chapter 13 bankruptcy, you have to be at least 4 years removed from the filing of your previous Chapter 7. If you’re going from a Chapter 13 to a Chapter 7, you need to make sure that your Chapter 7 is filed 6 years after the date of your original Chapter 13 filing.
Are you struggling financially? Pratt & Maegli Law Firm in Rockford helps Illinois families and individuals explore Chapter 7 and Chapter 13 options with clear answers and a personal approach. Call (815) 315-0683 or visit rockfordbankruptcytoday.com to schedule a confidential consultation and take the first step toward real financial relief.