If you have filed for bankruptcy before and have received a discharge, then as per the bankruptcy code there is a time limit on when you can file again. In case of the previous bankruptcy filing gets rejected, you can file for discharge without any time limits.
You can file for a bankruptcy discharge multiple times even if you have filed for a discharge before. But the catch is that you need to wait for a period of time until you can file again for a full discharge. If you file for a bankruptcy before the time limits, you won’t get a full discharge.
Types of Bankruptcy
A chapter 7 bankruptcy will eliminate most debts such as credit card debts, without the need for a repayment of any kind. Instead of this, the chapter 7 bankruptcy will liquidate your non-exempt assets to pay off parts or a full debt. A chapter 13 bankruptcy give you a repayment plan that allows you to keep all your assets if you have the repayment plan in place. The debts that are not part of the repayment plan will get discharged and this discharge of debts will give you the start that you need.
Chapter 11 bankruptcy is similar to both the chapter 7 and chapter 13 bankruptcy. It is mostly reserved for filers who have large businesses or have many significant assets and is more expensive than a chapter 13 bankruptcy.
How Do You Get a Discharge?
Many types of debts can be discharged in a bankruptcy filing. As long as you qualify for the chapter that you are filing for, you can get your bankruptcy discharged with the help of a bankruptcy lawyer San Diego and then you’ll be able to get the fresh start that you deserve.
You can have your bankruptcy discharge rejected if you do these:
Defrauding Attempt: If you try to hide, move or transfer your property then you can land in trouble. You need to make sure that you talked to your bankruptcy lawyer San Diego CA before your bankruptcy filing.
Hide or Get Rid of Information: Keeping all your financial details in a safe and organized place is probably the best thing you can do before you file for bankruptcy.
Lying or Refusing a Court Order: If you lie about your situation, then you can be fined or worse, end up in jail. Similar to lying, refusing a court order can have the same circumstances.
Failing an Instructional Course: You must take two instructional courses when you file for bankruptcy. These are:
- Credit Counseling
- Financial Management
Your bankruptcy filing will be clear if you don’t commit to any of these offences.
Getting Another Bankruptcy Discharge
You can qualify for another bankruptcy discharge if you meet the waiting period rules which are as follows:
Chapter 7 to Chapter 7: There should be 8 years between a previous Chapter 7 discharge and a new Chapter 7 discharge.
Chapter 13 to Chapter 13: A Chapter 13 repayment plan takes around 3-5 years to complete, so, you’ll be eligible for another discharge after the first discharge is paid off. 2 years is the period required to file a discharge between an old and a new discharge.
Chapter 7 to Chapter 13: There should be 4 years between a chapter 7 and chapter 13 filing date. When you file for a Chapter 13 bankruptcy after getting a Chapter 7 bankruptcy is often known as a Chapter 20 bankruptcy.
Chapter 13 to Chapter 7: In this bankruptcy filing, you will need 6 years between both filings. However, the six-year rule doesn’t apply if you paid off all your unsecured debts or at least 70% of your unsecured debts.
Will a Bankruptcy Attorney Help File Bankruptcy Sooner?
No, a bankruptcy attorney cannot help you get around the time limits set by the court. However, they can help you file a different kind of bankruptcy than which you first filed and confirm the earliest date to file the second bankruptcy. Your bankruptcy lawyer San Diego will be a great help in helping you with your second bankruptcy filing.
Do You Need Help Filing a New Bankruptcy?
If you want to file a bankruptcy, you can contact us and get your free bankruptcy call and discuss your situation.