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Filing for bankruptcy can provide much-needed financial relief, but what if you’ve filed before? Many people wonder if they can file bankruptcy a second (or even third) time. The answer depends on the type of bankruptcy previously filed, the time that has since elapsed, and your current financial situation.
Toronjo & Prosser Law offers comprehensive debt-relief services to individuals, families and small business owners throughout the Dallas-Fort Worth area. If you’re considering another bankruptcy filing, here’s what you need to know.
How Often Can You File for Bankruptcy?
Yes, one can file for bankruptcy more than once, but you must be aware that there are different waiting periods between filings. These waiting periods depend on the type of bankruptcy you previously filed and the type you wish to file now.
Chapter 7 to Chapter 7
- If you filed for Chapter 7 bankruptcy before and received a discharge, you must wait eight years from the date of your previous filing before filing for Chapter 7 again.
Chapter 7 to Chapter 13
- If you previously filed for Chapter 7 and received a discharge, you must wait four years from the date of your Chapter 7 filing before filing for Chapter 13.
Chapter 13 to Chapter 13
- If you previously filed for Chapter 13 and received a discharge, you must wait two years before filing for Chapter 13 again.
Chapter 13 to Chapter 7
- Let’s say you previously filed for Chapter 13 and received a discharge. In that case, you must wait six years before filing for Chapter 7. However, this waiting period may be waived if you paid at least 70% of your unsecured debts in good faith during your Chapter 13 case.
Filing Bankruptcy Without Receiving a Discharge
If your previous bankruptcy was dismissed without a discharge, you may be able to file again immediately. However, if your case was dismissed by the court for reasons such as fraud or failure to follow court orders, you may have to wait 180 days before refiling.
What If You Need Relief Before the Waiting Period Ends?
If you are facing financial difficulties but don’t yet qualify for another bankruptcy discharge, you have options:
- Debt Negotiation – Work with creditors to reduce or restructure your debt.
- Chapter 13 Repayment Plan – Even if you don’t qualify for a discharge yet, filing for Chapter 13 may allow you to restructure debt and avoid foreclosure.
- Bankruptcy Dismissal and Refiling – In some cases, strategically dismissing and refiling a case may be an option.
Consult a Bankruptcy Attorney in Dallas-Fort Worth
Understanding bankruptcy laws and the waiting periods can be confusing and complex. If you’re considering filing again, it’s best to consult an experienced Dallas-Fort Worth bankruptcy attorney who can evaluate your situation and guide you toward the best financial solution. Whether you need debt relief now or are planning for the future, knowing your options is key.
At Toronjo & Prosser Law, we’ve helped thousands of Texans regain financial stability. Contact us today for a free consultation to discuss your options and find out if another bankruptcy filing is right for you.