Can You File For Bankruptcy Twice?

You may have filed for bankruptcy in the past and may find yourself in a situation where you need to file a second time, but don’t know if you can or not. The good news is that there is no limit on how many times you can file for bankruptcy. There is just a limit on how long you must wait before you can file a second time.

No matter if this is your second or even fourth time filing for bankruptcy, you must know the time limit and restrictions you will face. The Ohio bankruptcy lawyers of Hausen Law, LLC have years of experience helping people in your situation.

If you need help in filing for bankruptcy, you can speak with someone now at our Akron office by calling (234) 678-0626.

What Can Stop You From Filing a Second Time?

Here are some reasons why you may decide to not file a second time:

1. The previous bankruptcy was different than the one you want to file the second time around
2. The last time you filed for bankruptcy
3. Whether your first bankruptcy was dismissed, discharged, or dismissed with prejudice

Limits on Filing Bankruptcy More Than Once

Chapter 7 to another Chapter 7

If you want to file a chapter 7 Bankruptcy a second time, you have to wait at least eight years before you can file again.

Chapter 7 to Chapter 13

If you filed for a chapter 7 the first time and want to file for a chapter 13 bankruptcy the second time, you have to wait four years.

Chapter 13 to another Chapter 13

You have to wait two years before filing another chapter 13 bankruptcy. Chapter 13 cases last about three to five years, so you may be able to file right after the first one concludes if enough time has passed already.

Chapter 13 to Chapter 7

If you filed for chapter 13 the first time, you have to wait at least six years before you can file for chapter 7. Now, there are exceptions to this if the following has been met:

• You paid your Chapter 13 debts out
• You paid at least 70% of your unsecured debts

Bankruptcy Dismissed With Prejudice

When your bankruptcy case was dismissed with prejudice, there are some restrictions you will have to face, which occur when:

• You didn’t follow the court’s orders
• You dismissed your bankruptcy once motion was made by a creditor
• You lied about your assets
• Creditors were late

Judges can be discrete when it comes to bankruptcy that is dismissed with prejudice. As a result of your bad behavior, you won’t be allowed to file for bankruptcy or discharge your debts ever again.

Be sure to contact experienced Northeast Ohio bankruptcy attorneys like James F. Hausen of Hausen Law, LLC to assist you with the entire process.