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Bankruptcy Law Frequently Asked Questions (FAQs) | Missouri & Illinois Common Bankruptcy Legal Questions
Q: Can I only file once for bankruptcy protection?
A: You can file and get a “discharge” under Chapter 7 once every 8 years. As for filing a Chapter 7, after filing and getting a discharge in Chapter 13, the wait is 6 years, computed from one “date of filing” to another. As for filing a case under Chapter 13 of the Bankruptcy Code, the wait is only 4 years after a prior discharged Chapter 7, or 2 years after a prior discharged Chapter 13 case.
If a prior bankruptcy case was “dismissed” as opposed to “discharged”, there is no required wait time between bankruptcy filings, barring a rare court order to the contrary. However, if a case is dismissed within the last 12 months, there may be problems with the automatic stay protection you will need to be aware of. If you are in this situation, hiring a good bankruptcy lawyer is a must. I have dealt with this issue over 100 times since the New Law was enacted. Hopefully, however, filing one bankruptcy will be enough to get your life back.
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