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What can you do if you need to file bankruptcy again and its not been seven years since your last bankruptcy?
Wiki User
∙ 12y ago
Under the bankruptcy laws effective from October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago.
The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago. So you can file for Chapter 13..and maybe wait long enough to convert to a Chap 7...sometimes called a Chap 20.
That's only a very small part of an answer to your question...the real one being: bankruptcy is for resolving an extraordinary bad luck in life event...a once in a lifetime event. Its a real break..that in most parts of the world you just don't get..there you pay your debts, or your kids, family do, or (and frequently it's AND) very bad things happen to you. But most certainly, your not a trusted member of the community ever again..and you ain't reneging on your solemn oath to pay again. Obviously, since you can get away with it, you don't mind being a liar....because every time you took and promised to pay it back and didn't...that's what you are...just to start.
If you think you need to get protection and hurt others again, just a few years after having done it, until you substantially change your ways....likely just about everything in your life, especially in your spending habits and probably even how and what you feel you deserve from others and yourself....you'll just continue being a bankrupt... in ways much more than money. Hey...wake up...what your doing...what your taking from others...it obviously ain't working for you and certainly ain't making you rich. Change. NOW.
Wiki User
∙ 12y ago
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How long after the first bankruptcy you can declare a second bankruptcy?
It takes seven to ten years after you initially declare bankruptcy for it to drop off your credit report, and you really should wait at least 1-2 years after that to declare again I hope that helped.
How long does bankruptcy stay on your record in Ontario?
Bankruptcy stays on your record at least seven years in Ontario. Bankruptcy often stays on you record permanently, it just isn't considered after seven years.
How long do you have to wait to file bankruptcy again in Georgia?
If it is a Chapter 7 Bankruptcy, you have to wait 8 years before you can file it again.
How many years is bankruptcy?
In the US, a bankruptcy will remain on your credit history for seven years, minimum. Creditors may seek to re-add the BK information on your credit report, even after the seven years.
How many year after you file bankruptcy can you file bankruptcy aging?
If you are talking about a Chapter 7 bankruptcy, It takes 7 to 9 years after you can file bankruptcy again.
How long does bankruptcy stay on in Missouri?
Bankruptcy is a federal act, and there must be no less that seven years between filings.
How long do you have to wait to file bankruptcy again in Indiana?
Assuming it is federal bankruptcy, 8 years, the same in every state.
If your Chapter seven was discharged in 2002 when would you be able to file chapter 7?
In 2005, they passed a law saying you can't do it again for eight years. You also have to reside in the state for two years prior to bankruptcy.
Can a judgment be put on your credit if the debt was part of the bankruptcy?
Not if the debt was discharged in the bankruptcy. If the judgment was on the credit report before the bankruptcy was filed and/or was discharged in the bankruptcy, the entry will still remain on the CR for seven years.
Why is it so hard to get a loan years after a bankruptcy?
Early on, you will notice lots of credit card offers and auto loan offers in your mailbox because you will not be able to file again for seven years. If creditors know this you are almost less of a liabilty than the average joe without a bankruptcy. However, your interest rates for credit cards and purchases will be much higher than joe's. When you get closer to that seven year mark you become much more of a liability to lend to again.
Why did the attorney tell us it would be seven years for a Chapter 7 bankruptcy?
By law, a person (or couple) can only declare bankruptcy every seven years. If you go through with a Chapter 7 bankrupcy, it will take 7 years for it to rotate off of your credit history.
How does bankruptcy effect your credit score?
First off once you file bankruptcy you cannot do it again for 7 years. Bankruptcy stays on your credit report for 10 years. Rather to try to describe what the different types of bankruptcy will do to your credit click the link for more information.
