Most people never expect to file bankruptcy even once, much less a second or third time. Life circumstances, however, do not always follow a script. Many debtors who have already found debt relief through bankruptcy later find themselves in the unexpected position of considering a repeat bankruptcy. For example, a business failure or job loss may trigger bankruptcy the first time, and a medical crisis such as cancer in the family or a natural disaster such as a hurricane may cause overwhelming debt problems the second time.
Whatever your individual circumstances are, there is no shame in the fact that you are contemplating bankruptcy a second or third time. If bankruptcy is the right debt relief solution for you at this time, you should contact an experienced bankruptcy attorney sooner rather than later, and begin planning your strategy for the best outcome suitable to your unique circumstances.
If you are in the position of considering a repeat bankruptcy, you need to be aware of time constraints for filing a second or third time. The following waiting periods normally apply from the date you filed bankruptcy previously:
- Between Chapter 7 and another Chapter 7 filing: eight years
- Between Chapter 13 and another Chapter 13 filing: two years
- Between Chapter 7 and a Chapter 13 filing: four years
- Between Chapter 13 and a Chapter 7 filing: six years
Note: A Chapter 7 followed by a Chapter 13 or vice versa is also referred to as a Chapter 20 bankruptcy.
Have you filed a Chapter 13 bankruptcy and now find yourself unable to keep up with the repayment plan because of a job loss, divorce, injury or medical crisis? You may be a candidate for a repeat Chapter 13 bankruptcy or you may qualify to convert your bankruptcy to a Chapter 7 although you did not qualify previously. In this case, the debtor does not have to re-file, but rather, petition the bankruptcy court to convert the Chapter 13 to a Chapter 7 because of a change in circumstances.
What Are Your Repeat Bankruptcy Options? Schedule a Free Initial Consultation at P.R. Smith Law Group, P.A.
For more information on the bankruptcy process or to speak with a lawyer about your rights, contact the P.R. Smith Law Group to schedule a free initial consultation. Call 888-682-5251 toll free to make an appointment in our Tampa office or one of our other Florida offices.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
