Woman filing for bankruptcy

Am I Able to File for Bankruptcy More Than Once?

Bankruptcy provides people with an opportunity for a fresh financial start. Ideally, it also serves as a learning experience. Unfortunately, however, people sometimes find themselves struggling financially even after an initial bankruptcy. This leads some individuals to explore the idea of filing a second bankruptcy. In this article, we examine whether it is possible to file for bankruptcy more than once. 

Filing for Bankruptcy More Than Once 

It is possible to file for bankruptcy as many times as is necessary. Bankruptcy laws don’t limit the number of times a person may file for bankruptcy, and they don’t set a minimum period a person must wait before filing again. However, if you file too soon after a previous bankruptcy, you won’t be eligible for another debt discharge in your new case. The waiting period must expire before you can qualify for additional debt forgiveness. And although there are situations when it makes sense to file for bankruptcy without receiving a discharge, this is rare. In most cases, it is advisable to postpone filing until the discharge waiting period has elapsed. 

Filing More than Once: Chapter 7 and Chapter 13

As noted above, although you may file for bankruptcy as many times as you like, there is a waiting period regarding debt discharge eligibility. Below are the discharge waiting periods for filing for a second bankruptcy under the same chapter. 

  • Chapter 7: You are eligible for a second chapter 7 debt discharge eight years after filing for a previous chapter 7 bankruptcy.  
  • Chapter 13: You are eligible for a second chapter 13 discharge two years after filing for a previous chapter 13 bankruptcy. 

Filing Under a Different Chapter 

If the bankruptcy chapter you intend to file under is different than the chapter you previously filed under, you must adhere to the following waiting periods to obtain a debt discharge in your new bankruptcy case: 

  • Chapter 7: You must wait four years after filing for chapter 7 bankruptcy to obtain a discharge in a chapter 13 bankruptcy case.
  • Chapter 13: You must wait six years after filing for chapter 13 bankruptcy to obtain a discharge in a chapter 7 bankruptcy case. However, there are some exceptions that can shorten this waiting period. 

Contact a Chapter 7 Bankruptcy Attorney 

If you would like to explore your bankruptcy options in Texas, you need an experienced Chapter 7 bankruptcy attorney in your corner. At Toronjo & Prosser Law, our bankruptcy attorneys are here to help you through the bankruptcy process. Unlike many firms, when you come to us for assistance with your bankruptcy case, you will work with an experienced attorney from day one. With thousands of successful bankruptcies under our belts, our lawyers have the experience to provide you with legal guidance you can count on. Please contact us today to schedule a free initial consultation.