The waiting time that bankruptcy filers must endure before they can file again — after a previously successful bankruptcy — depends on a variety of circumstances, including the type of bankruptcy they filed for in their previous debt dissolution processes. If you have filed for bankruptcy in the past, and you’re in debt trouble again, here’s some general information you need to know in terms of wait times:
Previously filed for Chapter 7 and wants to file for Chapter 7 again: Your wait time is going to be eight years between two successful Chapter 7 filings.
Previously filed for Chapter 13 and wants to file for Chapter 13 again: Your wait time is going to be three to five years between successful Chapter 13 filings because that’s how long Chapter 13 takes to resolve. In many cases, once your previous Chapter 13 has been resolved, you can file for the process immediately.
Previously filed for Chapter 7 and wants to file for Chapter 13: The wait time between a successful Chapter 7 and Chapter 13 filing will be four years.
Previously filed for Chapter 13 and wants to file for Chapter 7: The wait time between a successful Chapter 13 filing and a subsequent Chapter 7 filing will usually be six years, unless the Chapter 7 filing paid off 70 percent of the debts owed in the proceedings.
For some, bankruptcy is not a once-in-a-lifetime event. If you find yourself in the throes of a challenging debt situation in the years that follow a previous and successful bankruptcy process, learn more about your legal right to pursue bankruptcy a second time. You may be surprised that you can qualify for this helpful debt resolution process again.