How Long to File Chapter 7 Bankruptcy If You Already Had One?

by Mary Jane Freeman Google
It is possible to file for bankruptcy more than once.

It is possible to file for bankruptcy more than once.

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If you have previously filed for Chapter 7 bankruptcy, it is likely you will be entitled to file for a subsequent one. However, certain limitations affect who may refile and when. Typically, the waiting period is eight years between filings. If you previously filed but never received a discharge, the waiting period is typically much shorter.

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Chapter 7

Chapter 7 bankruptcy is a popular choice of individual debtors. Commonly referred to as liquidation bankruptcy, Chapter 7 requires debtors to give up their nonexempt assets to a bankruptcy trustee who liquidates them and uses the funds to pay as many of the debtor's creditors as possible. Whatever debts remain unpaid at the end of this process are discharged and the debtor is no longer responsible for them.

Previous Bankruptcy

If you filed a previous Chapter 7 bankruptcy but your case was dismissed or denied without your receiving a discharge, you typically can file for Chapter 7 again after 180 days have passed since the first filing. Dismissal or denial may happen for a variety of reasons, including failure to appear in the case, complete required paperwork or disclose all assets. If your discharge was denied because of misconduct, such as lying about or hiding assets, your debts from the previous case may not be dischargeable in the second bankruptcy.