{"id":1212,"date":"2019-11-12T11:37:13","date_gmt":"2019-11-12T17:37:13","guid":{"rendered":"http:\/\/www.mankatobankruptcy.com\/blog\/?p=1212"},"modified":"2019-11-06T11:48:33","modified_gmt":"2019-11-06T17:48:33","slug":"bankruptcy-again-waiting-periods","status":"publish","type":"post","link":"https:\/\/www.mankatobankruptcy.com\/blog\/bankruptcy-again-waiting-periods\/","title":{"rendered":"Filing for Bankruptcy Again: Waiting Periods and Other Important Details"},"content":{"rendered":"\n<p>If you\u2019re working through a difficult financial time, you may have begun looking for debt relief options already. Certain debt relief options might be more useful to you than others, depending on your situation. However, keep in mind that any kind of relief is a difficult, complex process. Because of this, it can be extremely helpful to work through a debt relief process like bankruptcy because the debt relief you obtain is certain and permanent and legally enforceable against your creditors. When you choose to file for bankruptcy in <a href=\"\/areas-mankato.php\">Mankato, MN<\/a>, Behm Law Group Ltd. provides the support and guidance you need to build a strong, successful case with long-term beneficial results. <\/p>\n\n\n\n<p>Many people won\u2019t experience a\nbankruptcy, but for those who do, they will find that it affects their lives in\nmany ways. If filers finish their case, but later find themselves in a similar\nfinancial situation, they have the option of filing for bankruptcy relief again.\n<\/p>\n\n\n\n<p>Sometimes, people will encounter\ndifficult and unavoidable financial troubles after having already filed for\nbankruptcy relief.&nbsp; Repeat bankruptcy\nfilings are allowed by the bankruptcy code. The requirements for debtors to\nfile another bankruptcy case largely include waiting periods between the dates of\nfiling of the respective bankruptcy cases. <\/p>\n\n\n\n<p><strong>Waiting Periods for Individuals<\/strong><\/p>\n\n\n\n<p>There are two types of bankruptcy that\nindividual, wage-earner consumers typically file:<\/p>\n\n\n\n<ul><li><strong><a href=\"\/bankruptcy-chapter7.php\">Chapter 7<\/a> (liquidation bankruptcy)<\/strong>: For debts discharged in exchange for non-exempt asset liquidation during a Chapter 7 case, the waiting period until you can file for a second chapter 7 bankruptcy is eight (8) years. For example, if someone files for Chapter 7 bankruptcy relief on August 8, 2010 that person would have to wait until August 9, 2018 to be able to file another chapter 7 bankruptcy case. <\/li><\/ul>\n\n\n\n<ul><li><strong><a href=\"\/bankruptcy-chapter13.php\">Chapter 13<\/a> (reorganization\/partial-payment bankruptcy)<\/strong>: Any debts discharged or repaid in a three- or five-year Chapter 13 repayment plan have a waiting period of two (2) years. This theoretically means you could qualify for a second Chapter 13 case while you are still making payments in your first chapter 13 case. \u00a0Theoretically, you, could be in repeat chapter 13 bankruptcy for years.\u00a0 Most chapter 13 bankruptcy cases last three (3) years.\u00a0 For instance, if one files for chapter 13 bankruptcy relief on August 8, 2010, one would be done with that case roughly by August 8, 2013.\u00a0 Immediately thereafter, one could qualify for and file a second chapter 13 bankruptcy case.<\/li><\/ul>\n\n\n\n<ul><li><strong>Chapter 7 (liquidation bankruptcy) After\nHaving Filed a Chapter 13 (reorganization\/partial-payment bankruptcy)<\/strong>: If someone has filed for chapter 13\nbankruptcy relief and has completed their chapter 13 plan and received a\ndischarge, one can subsequently file a chapter 7 bankruptcy case if one needs\nto do so.&nbsp; The time period between such\nfilings is six (6) years.&nbsp; So, if someone\nfiles for chapter 13 bankruptcy relief on August 8, 2010, one could file a\nchapter 7 bankruptcy proceeding August 9, 2016.&nbsp;\n<\/li><\/ul>\n\n\n\n<ul><li><strong>Chapter 13\n(reorganization\/partial-payment bankruptcy) After Having Filed a Chapter 7\n(liquidation bankruptcy)<\/strong>: If\nsomeone has filed for chapter 7 bankruptcy relief and has received a chapter 7\ndischarge, one can subsequently file a chapter 13 bankruptcy case.&nbsp; The time period between such filings is four\n(4) years.&nbsp; So, if someone files for\nchapter 7 bankruptcy relief on August 8, 2010, one could file a chapter 13\nbankruptcy proceeding August 9, 2014. <\/li><\/ul>\n\n\n\n<p>While no one actually wants to file for bankruptcy again, sometimes one can encounter life hardships and financial difficulties that are simply out of one\u2019s control.\u00a0 Many people have to file for bankruptcy relief a second or, even, third time.\u00a0 Medical emergencies which <a href=\"https:\/\/www.investopedia.com\/articles\/insurance\/09\/services-health-insurers-do-not-cover.asp\">may not be fully covered<\/a> by insurance, the death of a spouse resulting in only one (1) household income source where two (2) household incomes are necessary to cover daily living expenses and natural disasters which may destroy homes where insurance coverage is insufficient are just a few examples of how people may have a need to file for bankruptcy relief a second or third time. \u00a0<\/p>\n\n\n\n<p>To learn more about filing for bankruptcy in Mankato, MN, contact Behm Law Group Ltd. today at <a href=\"tel:507-387-7200\">(507) 387-7200<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019re working through a difficult financial time, you may have begun looking for debt relief options already. Certain debt relief options might be more useful to you than others, depending on your situation. However, keep in mind that any kind of relief is a difficult, complex process. Because of this, it can be extremely [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Filing for Bankruptcy Again: Waiting Periods and Other Important Details<\/title>\n<meta name=\"description\" content=\"Thinking of filing for bankruptcy again? Learn about the types of bankruptcy and proper waiting periods between each individual filing. 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