You can definitely file for bankruptcy again, even after receiving a Chapter 7 discharge. However, you will have to adhere to some specific time limits.
After filing a Chapter 7 bankruptcy and receiving a discharge, you will have to obey the following time limits:
- You will have to wait for 8 years from the date of filing of your first Chapter 7 bankruptcy before filing another Chapter 7 bankruptcy.
- You can apply for Chapter 13 bankruptcy immediately.
- You will receive a Chapter 13 discharge, only if, you will file for it 4 years after the date of filing of your first Chapter 7.
Importance of Filing a Chapter 13 Bankruptcy despite Receiving a Discharge
It can be highly advantageous for you to file for a Chapter 13 bankruptcy forthwith after a Chapter 7 bankruptcy discharge. It can aid you in bringing your secured debts up-to-date. It will also provide you a feasible way to repay the important debts. It is not easy to deal with such types of debts in Chapter 7 bankruptcy, as it is a liquidation bankruptcy. Therefore, a repayment plan under Chapter 13 bankruptcy will help you in catching up with your secured debts (like a mortgage or car loan), and also repay the IRS debts (taxes, child support, or alimony).
If you are planning to file a Chapter 13 bankruptcy immediately after receiving a discharge in Chapter 7 bankruptcy, consult an experienced bankruptcy lawyer like The Recovery Law Group. An attorney can guide you properly so that you can decide whether you should file for a Chapter 13 bankruptcy or not, and when should it be done. You can reach the Recovery Law Group at Recovery Law Group and 888-297-6203.