Bankruptcy continuously allows individual consumers and businesses to eliminate debilitating debt that will simply not go away.  Whether you are plagued by medical expenses, unbearable credit card debt, or any other debt, bankruptcy may be the best way for you to stop the bleeding and start over with a clean slate.  However, if you have filed for bankruptcy before, and your debt was discharged, you will need to wait a certain period of time in order to have your debt discharged from a subsequent bankruptcy.  While United States bankruptcy law does not explicitly place limitations on when and how many times you can file for bankruptcy, there are other limitations that you should be aware of, as explained below.

Does it Matter if I Previously Filed for Chapter 7 or Chapter 13 Bankruptcy?

Regardless of whether you have previously discharged your debt through Chapter 7 or Chapter 13 bankruptcy, you will still be subject to certain limitations.  If you previously filed for Chapter 7 bankruptcy, and wish to file for Chapter 7 bankruptcy again, you cannot receive a discharge of your debt from this second Chapter 7 bankruptcy for a period of eight years from the date of your first Chapter 7 bankruptcy filing.  This can be very confusing and is a very good reason why you should work alongside a Kansas City Bankruptcy Attorney.

If you previously filed for Chapter 13 bankruptcy and wish to file for Chapter 13 bankruptcy again, you cannot receive a discharge of your debt from this subsequent Chapter 13 bankruptcy filing within two years of the date of your first Chapter 13 bankruptcy filing. Further, if you choose to file for Chapter 7 bankruptcy for the first time following a Chapter 13 bankruptcy, you cannot discharge debt under any Chapter 7 bankruptcy within six years from the date of your Chapter 13 bankruptcy filing, with few exceptions.  Conversely, if you wish to file for Chapter 13 bankruptcy, and you previously had your debt discharged through a Chapter 7 bankruptcy, you cannot discharge debt under any Chapter 13 bankruptcy within four years of the date of your Chapter 7 bankruptcy filing.

How a Kansas City Bankruptcy Attorney Can Help You

As you can see from the above, pursing a subsequent bankruptcy can be extremely confusing.  The rules change from one situation to the next, making it difficult to predict how any given case may turn out.  Because the process can be challenging and stressful, and because your credit is on the line, it is advisable to speak with a skilled legal professional to ensure you are completing the bankruptcy process lawfully and successfully.

Contact Kansas City Bankruptcy Attorney Douglas Breyfogle Today to Schedule a Free Consultation

Bankruptcy can be a wonderful way to eliminate your debt and learn to minimize or avoid bad consumer debt, such as credit cards and high interest personal loans.  However, if you have already filed for bankruptcy, and have successfully discharged your debt, considering bankruptcy for a second time may or may not be in your best interest.  To determine if a second bankruptcy filing is right for you, and what other debt-elimination tools may be available to you, it is important to consider speaking with a seasoned Kansas City Debt Relief and Bankruptcy Attorney with the experience and dedication necessary to help you eliminate your debt.  With more than twenty years of experience, Kansas City Bankruptcy Attorney Douglas Breyfogle provides his clients with specialized legal representation on a regular basis.  No matter what the facts of your particular situation are, Mr. Breyfogle will ensure you are making the decisions that are best for your unique circumstances.  If you would like to schedule a free consultation to speak with Mr. Breyfogle, contact our office today by calling (913) 742-8700.