File Personal bankruptcy Twice ? marciacrossfan.net

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File Personal bankruptcy 2 times - Finance - Personal bankruptcy

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Often times customers inquire me if they can file personal bankruptcy 2 times. There looks to be the mistaken opinion among numerous individuals, attorneys involved, that you cannot file personal bankruptcy two times or that the Federal Legislation places a certain restrict on the amount of times that you can file personal bankruptcy.

Really, the limitations on personal bankruptcy are not on the amount of occasions that you can file. Instead, The limits on filing bankruptcy are not so considerably on the amount of moments that you can "file" but relatively on how typically you can get a "discharge" of your debts in a individual bankruptcy scenario that you have submitted. For illustration, you can file Chapter seven this year, get a discharge, then file Chapter 13 two many years and the Court will let the submitting. Nonetheless, you may possibly not be eligible to obtain a discharge in the subsequent circumstance.

There is a complex set of policies that use. For case in point, you can get a Chapter 7 discharge 8 several years after a Chapter seven filing and six several years after a Chapter 13 filing. You would want to seek advice from with a really knowledgeable personal bankruptcy lawyer or attorney who has a powerful command of the pertinent rules to solution this query properly. In the Chapter thirteen context the filing bankruptcy waiting durations to receive a discharge are shorter, meaning you have to wait around much less time right after a bankruptcy submitting to be in a position to file a Chapter 13 and get a discharge of your debts in that Chapter thirteen case. The guidelines vary relying upon no matter whether your prior situation was a Chapter seven or a Chapter 13 case.

There are policies that give that if you file several bankruptcies you get a lot less advantages in the subsequently submitted bankruptcies, such as decreased or non-existent personal bankruptcy computerized keep, which would mainly have an effect on a Chapter 13 case and not a Chapter seven scenario due to the fact Chapter thirteen is usually filed to get the advantage of the automatic stay and end a foreclosure.

So if you are contemplating bankruptcy and need to have to file a Chapter seven or Chapter thirteen case, make sure your attorney understands that the limits on individual bankruptcy filings mostly tackle the variety of discharges that you can obtain in a Chapter 7 or Chapter 13 scenario and not the variety of moments that you can file in a given period of time.

Mark Aalam
Personal bankruptcy Attorney

About the Author

San Diego Personal bankruptcy Law firm specializing in Chapter 7 and Chapter 13 bankruptcy.

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Markaalam

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