How Long Should I Wait Before Filing For Bankruptcy Again?

Filing For Bankruptcy Again: Important Factors To Consider

If you’ve filed bankruptcy once, you may be wondering whether you can file again. Although there is a common misconception that a person can only file for bankruptcy once in their lifetime, that isn’t actually the case. The answer is yes, you can file for bankruptcy again, although there are limits on the timing. If you need to file bankruptcy a second time, it’s crucial to comply with all legal restrictions and Nevada laws so that you can obtain the full benefits of bankruptcy and avoid being treated as a bad faith filer, which may prevent your debts from being discharged in the bankruptcy process. To understand exactly how Nevada’s bankruptcy laws apply to your situation, be sure to work with an experienced Reno bankruptcy attorney who can investigate your situation and provide legal guidance.

How Long Do I Need To Wait After Receiving a Discharge?

The most common situation of subsequent bankruptcy filings is where a person files for bankruptcy, has their debts discharged, and then needs to file bankruptcy again later due to new debt. How long you’ll need to wait before filing again will depend on what type of bankruptcy you previously filed and what type you want to file this time.

If you filed a Reno Chapter 7 bankruptcy and your debts were discharged, you’ll need to wait:

At least 8 years from the previous bankruptcy filing in order to file another Chapter 7 bankruptcy
At least 4 years from the previous bankruptcy filing in order to file a Chapter 13 bankruptcy

If you filed a Chapter 13 bankruptcy and your debts were discharged, you’ll need to wait:

At least 2 years from the previous bankruptcy filing to file another Chapter 13 bankruptcy
At least 6 years from the previous bankruptcy filing in order to file a Chapter 7 bankruptcy. However, if you paid all or most of your unsecured debt in the previous Chapter 13 bankruptcy, you may not need to wait a full 6 years.

If you previously filed for bankruptcy but did not receive a discharge, those waiting periods do not apply. An additional consideration is that you can file for bankruptcy but not be eligible for a discharge. In most cases, the purpose of filing is to receive the discharge. However, in some situations, since filing for bankruptcy initiates an automatic stay, filing may still be useful because it provide you with a little bit of time to catch up on bills or mortgage payments. In those cases, filing for bankruptcy can be a worthwhile decision even if you know that your debts will ultimately not be discharged.

How Long Do I Need To Wait To File Another Bankruptcy If My Case Was Dismissed?

Another common bankruptcy situation is when someone files, cannot complete the bankruptcy for some reason, and the case is dismissed. In those cases, you may need to work with your Reno bankruptcy attorney to file again and deal with the debt because it was not eliminated in the first filing. In these types of situations, the timing limits for filing is much more narrow.

You will need to wait at least 180 days before filing for bankruptcy again, as long as you meet one of two conditions:

Your case was dismissed for willful failure to abide by court orders or failure to appear before the court as requested
Or, you requested and obtained a voluntary dismissal after one of your creditors asked for relief from the automatic stay that was in place

If neither of these conditions apply to your situation, you can file another bankruptcy immediately after your case is dismissed. If you’re unsure whether you qualify to file for bankruptcy immediately, your Reno bankruptcy attorney can examine the details of your situation and determine whether you will need to wait 180 days to file again or whether you qualify for an immediate re-filing.

Are You Wondering If You Qualify To File For a Subsequent Bankruptcy? Learn More From Nevada’s Trusted Bankruptcy Attorneys!

The legal team at Zero Down Bankruptcy Lawyers of Reno have helped many people just like you navigate the complexities of Nevada’s bankruptcy law. We work hard to make sure your bankruptcy process proceeds as smoothly as possible by working to evaluate your eligibility, advise you of your legal options, and develop a strategy for your unique situation so that you get the maximum benefit from filing for bankruptcy. We offer flexible repayment plans with zero money down so you can begin working with us immediately! Call us today to schedule your free, confidential consultation and get started on the path toward no debt.