If you had filed for bankruptcy, you might want to know when you could file for Chapter 7 or Chapter 13 bankruptcy again. There are certain time limits associated with any type of debt discharge. It is best if you can sign up with a bankruptcy attorney to effectively deal with the processing. Read further to know some of the time limits which can be applied to discharging and bankruptcy.
The time limits and bankruptcy are concerned only with discharging of debts in the US. Presently, if you have received a bankruptcy settlement in which a discharge of your debts was sent, you will not receive another discharge right away. Getting to know some of the basic time frames for the second discharge on debts will be helpful in preparing for filing again if you are still in need of debt relief.
Under the rules of chapter 7 bankruptcy, if you have received a discharge, you will not be able to receive the next discharge from debts for another 8 years with effect from the date that the first chapter 7 bankruptcy case was filed. Chapter 7 bankruptcy is a form of debt relief that is obtainable only a few times within your lifetime.
Chapter 13 cases may not get any kind of debt discharge until 2 years after the date in which the first case was filed. In certain cases, the court may refuse to verify a chapter 13 plan in which you applied second time within 2 to 6 years.
Generally, with the second filing of chapter 13, a case could be converted over to chapter 7. Chapter 7 rules can be applied for discharge stopping you from receiving any kind of debt relief for the next 6 years after Chapter 13 case was filed. In case of conversion, you can get debt relief. For that, you must have paid all unsecured creditors under your first chapter 13 bankruptcy in full and at least 70% of the other claims in chapter 13. If all criterions are met, you can convert within 4 years of your first bankruptcy application.
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