How many times can I file for bankruptcy?

If you have filed bankruptcy in the past and you have fallen victim to the recent plummet in the economy, you may be wondering how many times you can file bankruptcy. Whether you are allowed to re-file for bankruptcy depends on whether or not you received a discharge under your most recent bankruptcy filing and what kind of filing you made in the first place.

While there are no limits on how many times you can file bankruptcy there are limits to how often you can file. If you received a discharge under a Chapter 13 bankruptcy case, then you cannot file for relief under Chapter 7 unless:

1. Six (6) years have passed since the discharge in the Chapter 13 case; or
2. You paid at least 70 percent of your unsecured claims in the Chapter 13 case and the plan represented your best effort to pay.

If you received a discharge under a Chapter 7 bankruptcy case, then you cannot file for relief under Chapter 7 again unless eight (8) years have passed since the discharge in the previous Chapter 7 filing.

If you filed a Chapter 7 or Chapter 13 case that was dismissed because you failed to obey court orders or you voluntarily requested a dismissal and did not obtain a discharge, then you cannot file for relief under Chapter 7 unless 180 days have passed since the dismissal of the previous filing.

Assuming that you meet the above time restrictions for re-filing, there is no limit to the amount of times you can file bankruptcy in a lifetime. Whether it’s a wise decision to continually file is another question entirely.

If you find yourself needing the services of a bankruptcy attorney, please contact us at (904) 685-1200.

Source: “Top 10 bankruptcy myths debunked,” by Brigitte Yuille, published at BankRate.com.