Unfortunately, some folks have all the luck. We do our best to make sure our clients are able to build a financial path that leads them away from the precarious positions that bankruptcy saves them from. Sometimes, life has other plans though and that first clean slate needs a repeat performance.

The good news: the law says you can file for bankruptcy as many times as you like.

The bad news: there are waiting periods after your previous filing before you can get another discharge.

It’s not that straightforward either, so we’ve put together this little chart of Bankruptcy Waiting Periods. We’ve helped clients use this chart to time filings to get the most out of their bankruptcy options.

 

First Case Chapter New Chapter 7 discharge New Chapter 13 discharge
Chapter 7 8 years from first filing 4 years from first filing
Chapter 13 6 years from first filing

(unless all creditors paid or 70% of claims rule)

2 years from first filing