The answer is yes! Life can hit you in unexpected ways and sometimes the hits keep coming. A number of our clients have filed for bankruptcy multiple times –and filed with our law firm multiple times.
If you have filed for bankruptcy before, you can file again. The catch is (because there always is one!) that there is a certain period of time that must pass between filings in order to receive another bankruptcy discharge. The necessary time between discharges is dependent on what chapter bankruptcy you had filed previously.
A general rule of thumb is that you must wait 8 years between two Chapter 7 bankruptcies and 2 years between two Chapter 13 bankruptcies.
But, it is important to note that you are not limited to filing the same chapter you had filed previously.
Maybe, fresh out of college you had needed to file a Chapter 7 since, at the time, you were unemployed. But now, you have been working in your field for some time and have an income that is above the Minnesota median income and you also have the ability to pay on a Chapter 13 plan. This is a situation in which there must be 6 years between your previous Chapter 7 and your intended Chapter 13. As long as that requirement is met, you will be able to file and receive a bankruptcy discharge!
There are nuances to everyone’s individual situation and the best way to move forward with a first, second, third (or however many) bankruptcy is to consult a bankruptcy specialist. Our attorneys can review your previous bankruptcy to determine what the next steps are.
Whether you are filing bankruptcy for the first time or the third time, having an attorney that is understanding of your situation is key. At Kain & Scott, all we do is bankruptcies so our attorneys can help navigate you through your filing without a hitch.
Contact Kain & Scott to consult with MN’s NICEST bankruptcy attorneys and discuss the best way for you to get relief from your debt at www.kainscott.com.