CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Is it Possible to File for Bankruptcy More than Once?

For most people, bankruptcy is a once in a lifetime experience. They use it as a tool to repair their financial standing and ensure they have the same opportunities in the future as someone who never faced financial hardship.

For some though, bankruptcy is not enough to change their approach to money. And in some very unfortunate cases, someone coming out of a bankruptcy with the best intentions encounters a serious financial crisis due to job loss or expensive medical issues. For these people, a second bankruptcy might be necessary.

Until the fall of 2005, it was fairly easy for people to file multiple bankruptcies. Federal laws have made this more difficult in order to prevent consumers from being taken advantage of by unethical bankruptcy professionals. Though more difficult than before, multiple bankruptcies in a lifetime are still possible when necessary.

What should you consider and what steps should you take if you think a second bankruptcy might be necessary?

Determine If You are Eligible to File for Bankruptcy Again

First, you need to determine if you are eligible to file again. Chapter 7 bankruptcy filers might need to wait eight years after their discharge date to file another Chapter 7. Chapter 13 filers will need to wait six years before they are eligible to file for Chapter 7. The shortest length of time anyone is eligible to file again is four years for original Chapter 13 filers now seeking Chapter 7. An experienced bankruptcy attorney can help you determine your eligibility for an additional bankruptcy.

Those filing for bankruptcy more than once will likely be required to take a financial management court and might also be required to work with a credit counselor. In most cases, these steps are required before he or she can begin filing for either Chapter 7 or 13.

Work with a Bankruptcy Attorney to Help You File

Once eligibility for second bankruptcies is established, the process of filing is fairly similar to what first-time filers face. Income requires must be met and a debt re-payment plan will be established for Chapter 13 filers. Working with a bankruptcy attorney during second filings is just as important as it is for first-time filers. The process is complicated and if you make mistakes when filing, your bankruptcy request can be denied. An attorney will ensure your paperwork is completed correctly and on time so your case is not thrown out of court.

The bankruptcy process can last anywhere from a few months to three years. During this time, it is important you make wise financial decisions and be aware of the consequences of financial mistakes. A second bankruptcy is often more avoidable than the first, so it is important you correct the mistakes you made the first time around. If your second filing was unavoidable for any of the reasons mentioned above, work closely with a financial expert who can offer advice on managing your finances, even when faced with uncontrollable circumstances.

If you would like to know more about filing for bankruptcy multiple times or you have any questions about bankruptcy, contact the Law Offices of Robert M. Geller at 813.254.5696.

Archive

Tampa Bankruptcy Law Blog

What to Do If a Debt Remains on Your Credit Report after Bankruptcy: Why You Need to Be a Detective When It Comes to Credit Reporting Errors

Credit Reporting Errors If you’ve noticed something on your credit report that doesn’t belong there, you aren’t alone. Credit reporting...
Read More

What Happens to the Property I Lose in Bankruptcy? Some Bankruptcy Assets Might Be Protected in Your Favor

Bankruptcy Assets One of the biggest fears people have about filing for bankruptcy is losing their possessions. Many people avoid...
Read More

3 Bankruptcy Tips To Prevent Your Case From Going Off The Rails

Bankruptcy Tips Bankruptcy is one of the most powerful tools you have for improving your financial situation. Unfortunately, it sometimes...
Read More

Can I File for Bankruptcy from Home after a Creditor Files a Lawsuit against Me?

Bankruptcy from Home Have you been served with notice that a creditor is suing you for repayment of a debt?...
Read More

Can I File for Bankruptcy without My Spouse?

Bankruptcy without My Spouse Bankruptcy is an option for single people or married people to get their finances back on...
Read More

Am I Eligible for the Same Benefits If I File Bankruptcy from Home?

Bankruptcy at Home Filing for bankruptcy is one of the best ways to get relief from debt. Not only does...
Read More

Help! A Credit Card Company Won a Judgment against Me!

Judgment Creditor Having a credit card company file legal action against you is nerve-wracking. It only gets worse if they...
Read More

How We Can Help You Improve Your Credit Score after Bankruptcy

Improve My Credit Score A solid credit score is an important tool that helps you in many ways. Unfortunately, just...
Read More

3 Ways You Can File for Bankruptcy

Ways to File for Bankruptcy Filing for bankruptcy is one of the best ways for many people to get their...
Read More

5 Benefits of Filing for Bankruptcy from Home

Filing from Home Filing for bankruptcy from home is one of the best ways to get your financial life back...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

NACBA Logo comodo avvo1 avvo2 avvo3 LEA BBB Logo RG Seal

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions