Can I File Bankruptcy More Than Once?

If you have filed for bankruptcy before and find yourself in a similar situation, you might be curious whether you can file for bankruptcy again. Drowning in a mountain is an extremely stressful situation.

The good news is that unless the courts have specifically stated that you cannot file again, you can file bankruptcy as many times as you like. Continue reading to learn more about the rules for filing bankruptcy more than once.

How Long You Need to Wait Based on Your Last Bankruptcy

You can certainly file for bankruptcy again, but if your debts have been previously discharged, you’ll need to wait a minimum amount of time before you qualify again. The amount of time you need to wait depends on how long it’s been since you filed and the type of bankruptcy you filed previously.

For example, if you filed Chapter 13 previously—in which you formulated a repayment plan to your creditors—and you are seeking Chapter 7 this time around, you’ll need to wait six years from the day you initially declared Chapter 13 before you can declare Chapter 7. The exception being if you paid off each, or a minimum of 70 percent, of your unsecured debts.

Restrictions and Prejudice Dismissal

There are also situations where the courts can require you to wait a minimum amount of time before declaring bankruptcy again. This will happen if a previous bankruptcy case was dismissed with prejudice, which means you are found to be abusing the bankruptcy process.

Generally speaking, these restrictions will last approximately 180 days. What’s more, if you are found to have committed bankruptcy fraud, the court system will have every right to bar you from ever declaring bankruptcy again.

Reach out to an Indiana Bankruptcy Lawyer

Falling behind on your debts is nothing to be ashamed of, and when you’re drowning in debt, bankruptcy can be an excellent option—no matter how many times you need to file.

You can work with an Indiana bankruptcy lawyer at Rowdy G. Williams Law Firm any time you find yourself in financial straits. Simply give our office a call at 1-812-232-7400 or complete the brief contact form below.