Notice: Due to COVID-19, we will be conducting all consultations via Zoom and telephone. We are open and here to help people in these trying times.
Please don’t hesitate to call us if you have any questions!
Bach Is Your Financial Future.
555 Skokie Blvd Suite 250, Northbrook, IL 60062
PO Box 1285, Northbrook, IL 60062
Contact Us Today!(847) 440-5998
If you’ve filed for bankruptcy in the past, typically the only restriction placed on filing another one is time. Depending on the type of bankruptcy you file for and the outcome of the case, that can range anywhere from a few days to up to 8 years. Continue reading to learn everything you need to know about filing for bankruptcy again.
Technically, you can file for bankruptcy as many times as you want, with no restriction on time. However, if you file too soon, you won’t be able to get another discharge, which releases you from your debt. While simply filing for bankruptcy can lead to a cheaper payment plan, it’s not the way to go if you’re looking to clear your entire debt.
If your bankruptcy is dismissed, you can file for another one right after the dismissal, unless the court places a time restriction. You may also be prohibited from filing for another bankruptcy indefinitely if your previous case was dismissed with prejudice because of fraud.
In addition to the timing rules mentioned above, bankruptcy courts can set their own time restrictions to prohibit you from filing another bankruptcy too soon. Limitations in Section 109(g) of the Bankruptcy Code allow courts to set a 180-day bar from filing another bankruptcy. This can happen for several reasons:
Before moving forward with a decision, speak to one of our Northbrook bankruptcy lawyers in regards to your financial situation. We offer a free, in-person consultation, so don’t hesitate to contact us today!