What Are The Rules About Multiple Bankruptcies?
Technically, there are no limits to how often you can file bankruptcy. However, there are limits on how often you can actually receive a discharge of your debts, which is one of the benefits of filing. Depending on your situation and your ultimate goals, it may be to your advantage to file bankruptcy more than once to get completely out of debt.
At Lefkovitz & Lefkovitz, we are known for finding out-of-the-box solutions, even if that means filing bankruptcy multiple times to get you where you need to be. We take the cases that other lawyers turn down because they’re just too complicated. In fact, we find cases that involve multiple filings a challenge.
Our attorneys have helped thousands of people in Nashville and Middle Tennessee get debt relief and a fresh start on their financial lives. We have solved some of the most complicated financial problems during our 37 years of practice. Come talk to us, no matter how dire your situation may seem. If a solution exists, we’ll find it.
Multiple Bankruptcies Can Work?
Yes, and quite efficiently too. When you’re filing bankruptcy, you have a specific goal in mind. Sometimes you need repeat filings to make that goal happen. Generally speaking, it breaks down this way:
- If you have filed Chapter 7 bankruptcy, you must wait eight years from the date you filed before you are eligible for another Chapter 7 discharge.
- If you have filed Chapter 13 bankruptcy, you must wait at least two years from the date you filed before you are eligible for another Chapter 13 discharge.
So if you file Chapter 7 bankruptcy, then file Chapter 13 bankruptcy as soon as you receive your original discharge, you get rid of all of your unsecured debt and set up a payment plan to pay back all of your secured debt. This is commonly referred to as a Chapter 20, as you are adding the two bankruptcy forms together.
We have layered various forms of bankruptcy on top of each other to achieve the goals of our clients, whether they are individuals or businesses. Our main objective is to help you get the debt relief you need, even if it takes a few years to happen.
Let Us Find A Creative Solution To Your Complicated Bankruptcy Problem
Contact our office in Nashville at 615-686-2279 or our office in Cookeville at 931-400-2218 to schedule your free consultation. You can also reach us via email.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.