Let me ask you a question. Do you think when something bad happens to you in your life it is the last time something bad will ever happen to you again? Hardly right? I have seen Minnesotans go from a failed business to a failed marriage to a heart attack and in all three scenarios the debt was overwhelming. In each case, the debt that resulted caused a bankruptcy filing.
There is no maximum number of times you can file a Chapter 7 Bankruptcy in Duluth, MN. The Bankruptcy Code does prohibit you from filing a Chapter 7 Bankruptcy if you have filed a previous Chapter 7 Bankruptcy and received a discharge in the previous 8 years. In theory, you could file a Chapter 7 Bankruptcy every 8 years.
At Kain & Scott, we have never seen someone file a Chapter 7 Bankruptcy every 8 years, far from it. I have seen people who need to file bankruptcy 3-4 times in their lives. It happens. The humility of being alive my friends!
Now if you filed a Chapter 13 Bankruptcy and received a discharge, you have to wait 6 years after filing the Chapter 13 Bankruptcy to file a Chapter 7 Bankruptcy. What happens if you file a Chapter 7 Bankruptcy and you don’t qualify to be a debtor in the Chapter 7 Bankruptcy case? The US Trustee’s Office will bring a motion to dismiss your Chapter 7 Bankruptcy case. I have seen this happen.
If you are suffering from overwhelming debt, please do not hesitate to reach out for help. At Kain & Scott we know these things can happen again and we are not at all surprised by the humility of life.
When the time is right, or when you are ready, reach out to Minnesota’s OLDEST bankruptcy law firm at www.kainscott.com. You will be glad you did!