How Much Time Must Elapse From a Prior Bankruptcy Before Filing a New Bankruptcy

How much time must elapse from a prior bankruptcy before filing a new bankruptcy? It depends on the prior bankruptcy chapter that was filed and the bankruptcy chapter one wishes to now file.

Debtor Wishes to File a Chapter 7 Bankruptcy

Under the United States Bankruptcy Code, the debtor must wait more than eight (8) years from the date of a previously filed and discharged chapter 7 before the debtor is eligible to file a new chapter 7 bankruptcy. For a previously discharged chapter 13 bankruptcy more than six (6) years must elapse from the filing date before the debtor is eligible to file a new chapter 7. An exception to the six (6) year requirement is when the debtor paid 100% of the allowed unsecured claims in the prior chapter 13, or 70% of such claims and the plan was proposed in good faith and was the debtors best effort.

In addition, the debtor must not have been a debtor in a prior bankruptcy case that was dismissed within the preceding 180 days because (1) the debtor failed to abide by an order of court or to appear before the court, or (2) the debtor requested dismissal after a creditor filed a motion for relief from the automatic stay.

Debtor Wishes to File a Chapter 13 Bankruptcy

The debtor must wait more than four (4) years since the filing of a discharged chapter 7 bankruptcy or chapter 11 bankruptcy before the debtor is eligible to file a new chapter 13 bankruptcy. For a previously discharged chapter 13 bankruptcy more than two (2) years must elapse from the filing date of the previously discharged chapter 13 before the debtor is eligible to file a new chapter 13.

In addition, the debtor must not have been a debtor in a prior bankruptcy case that was dismissed by the debtor within the preceding 180 days.

We can determine eligibility and when to file using our U. S. Bankruptcy Court database. With over 35 years of experience and a former Trustee for the U.S. Bankruptcy Court call LONG & LONG P.C. now at 303-832-2655, or visit www.denverbankruptcyattorney.net