Debt is not an issue that people should be ashamed of having. Many people suffer from overwhelming financial obligations because of medical bills, high debit card interest rates and emergency expenses. When someone files for bankruptcy, they often never imagine themselves getting into debt again — but it happens more often than people think.
If a person has filed for bankruptcy in the past and is facing large amounts of debt once more, another bankruptcy may be an option. Here is how long someone needs to wait before filing for bankruptcy again:
Was your bankruptcy claim dismissed?
Just because someone filed for bankruptcy does not mean their claim was accepted. A bankruptcy filing may be dismissed without a discharge. If this happens and a person wants to file for bankruptcy again, the filer may need to wait 180 days (six months) before filing again.
What type of bankruptcy did you file for in the past?
Filers often need to look at what type of bankruptcy they filed in the past to know how long they will need to wait before they can file for bankruptcy again. The minimum waiting period for each type of bankruptcy includes:
- Bankruptcy Chapter 13 after a Chapter 13 filing: 2 years
- Bankruptcy Chapter 13 after a Chapter 7 filing: 4 years
- Bankruptcy Chapter 7 after a Chapter 13 filing: 6 years
- Bankruptcy Chapter 7 after a Chapter 7 filing: 8 years
Bankruptcy can provide relief to families struggling with overwhelming debt. If you are not sure if you can file for bankruptcy, you can reach out for legal guidance and learn about your options.