Even if you filed bankruptcy in the past, you can still file again. However, there are rules surrounding your discharge eligibility. If you filed bankruptcy before and find yourself experiencing financial difficulties again, an experienced Morris County bankruptcy attorney can help you understand all of your debt relief options, as well as your eligibility for another bankruptcy discharge.
I Received a Chapter 7 Discharge…
The unexpected can happen at any time…even after obtaining a fresh start financially through Chapter 7 bankruptcy. People get laid off, file for divorce, lose a loved one, incur unexpected medical expenses, and any one of those life events can lead to financial difficulty. If you received a prior Chapter 7 discharge and find yourself struggling with debt once again, you:
- Become eligible for another Chapter 7 discharge eight years from the filing date of your previous Chapter 7 case that resulted in a discharge
- Can file a Chapter 13 case anytime after your Chapter 7 case is complete, but
- Will not become eligible for a Chapter 13 discharge until four years from the filing date of your Chapter 7 case that resulted in a discharge
I Received a Chapter 13 Discharge…
So you successfully completed your Chapter 13 plan, received a Chapter 13 discharge, but now, a year or two later, you find yourself facing foreclosure, about to lose your car or drowning in medical debt. Just because you filed Chapter 13 bankruptcy before does not mean you can never file for bankruptcy relief again. Following a Chapter 13 discharge, you:
- Become eligible for another Chapter 13 discharge two years after the filing date of your previous Chapter 13 case that resulted in a discharge
- Are immediately eligible for a Chapter 7 discharge if you paid more than 70 percent to unsecured creditors in the Chapter 13 case
- Become eligible for a Chapter 7 discharge six years from the filing date of the Chapter 13 case if you paid less than 70 percent to unsecured creditors
If you find yourself struggling with debt payments – even if you recently received a bankruptcy discharge – contact a knowledgeable Morris County bankruptcy attorney who can review your case and provide you with important bankruptcy information. Bankruptcy is a financial tool that offers people a fresh start, and you are not limited to just one fresh start during your lifetime. The unexpected can happen at any time…even after bankruptcy. If you filed bankruptcy before and think you may need to file again, let an experienced attorney help you make the right decision for you and your family.