How Often Can You File Bankruptcy?
How often can you file bankruptcy? Often, those that are unable to get out of debt the second time around ask this question. The answer might surprise you, but it might not be the answer you are looking for...
The truth is that you can file as much as you want to. The trick is that you probably won’t be approved for bankruptcy numerous times. Bankruptcy laws have changed drastically since October of 2005, which means that filing is now harder than it ever has been before. Essentially, if you have filed for Chapter 7 within the past 8 years you cannot file again (and be approved) until that time limit has expired. If you have filed for Chapter 13 within the past 6 years, you cannot file again until those six years are up. While this is the basic information behind the original question (how often can you file bankruptcy?) ever case is different.
As with most things that have to do with bankruptcy, filing times are never cut and dry. Many things will determine how often you can file, and whether or not you will be approved when you do decide to file. In order to figure out if you can try to file once more you will have to speak with a bankruptcy lawyer. If you have just gone through bankruptcy, but you find yourself buried beneath debt once again, you should know that there are other ways out of debt this time around.
Meet with a credit advisor that will help you to put a sound financial plan into action. This way, you can devise a realistic repayment schedule concerning all of your debts. As soon as you see how easy it actually is to repay all those debts you will be able to get yourself out from underneath all of those bills. The truth is that filing for bankruptcy once again might not be your only option. If you meet with a financial planner or bankruptcy lawyer you will see that you have many alternatives to filing once more. How often can you file bankruptcy? As much as you want to…but you don’t have to keep filing in order to get rid of y our debts.
If your goal is to get rid of your debts once and for all, speak with an attorney. A knowledgeable lawyer knows the law inside and out, and they also know a thing or two about the many options that you have.
Now that you know the truth behind the original question (how often can you file bankruptcy?) you can decide if this is the right course of action for you.