Can I File Chaoter Seven Again
In full general, yous can file a chapter 7 bankruptcy case in one case every eight years. For case, if yous filed on January one, 2008, then you would not be eligible to file another chapter 7 bankruptcy example until January 2, 2016. If you filed the example in between those two dates, the chapter vii trustee or the United States trustee would likely bring a motion to dismiss the case for ineligibility. However, there is some other affiliate that you can file which would provide significant relief. You could file a affiliate thirteen bankruptcy case and proposed to repay your creditors as little as ten% over a three to five-twelvemonth period. Additionally, you can keep your affiliate thirteen active until such time that you lot are eligible to file a chapter 7 bankruptcy over again. In that case, you would have to dismiss your affiliate thirteen bankruptcy and refile a affiliate 7 instance. You lot would not exist able to catechumen the case one time y'all were past the eight years and a 24-hour interval considering the instance number would remain the same thus the filing engagement would remain the aforementioned. This is i of those unique nuances of the defalcation lawmaking whereby you lot actually have to dismiss your affiliate 13 despite the fact that more than 8 years take passed since your prior chapter seven to exist able to file another chapter seven. Clients ofttimes question why exercise I need to dismiss my case and then refile? Clients obviously want to avoid having to have the credit counseling, provide two months of paycheck stubs and provide their most recent federal tax return again. The reason as stated above is simply that the case number and the date of filing remain the same when you convert from a chapter thirteen to a chapter 7.
You Can Too Endeavor Chapter xiii Defalcation
Yous may find that chapter 13 will provide significant relief when chapter vii is unavailable. After all, if creditors are bothering yous with wage garnishments, bank citations and other drove activities, those all cease in a affiliate xiii bankruptcy case. Your secured creditor such as your house and car and other secured debts get paid dorsum at a priority above the unsecured creditors. Debts such as credit cards, medical bills, personal loans, utility bills, repo deficiencies and most other unsecured debts are paid back at less than what is owed over a 3 to v-year period. They also go paid back after the secured debts are paid typically. This means that the credit card company that you lot owe money to who may take garnished your wages will actually get very little back towards the very end of your instance. To learn more about chapter xiii and the different hierarchy and ways that creditors are treated, you lot need to discuss it with an experienced chapter 13 bankruptcy attorney in your local surface area.
Another major do good of filing a chapter 13 before you are eligible to file a chapter vii is that you lot will have an opportunity at the time you refile the chapter 7 to add whatever creditors you may have incurred since your affiliate 13 instance was filed. This means that y'all accept the protection of your discharge in that y'all have not exhausted information technology as of nevertheless. Affiliate vii will be the ultimate elimination of unsecured debt at the time of filing. Y'all can rest bodacious that while you lot're in your affiliate xiii, if y'all were to incur any mail-petition debt such as payday loans, credit cards, medical bills or other debt, those debts can be included when you lot somewhen file for the chapter 7 fresh commencement bankruptcy. The quality of attorneys volition vary and the fees will vary so please do your enquiry before you really make up one's mind to file. The chaser that you hire can make a huge difference in the manner that your case is handled. You lot want to make sure that you accept an excellent chaser who will have care of everything in your case and so that it goes as smoothly as possible for you.
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Source: https://davidmsiegel.com/can-i-file-chapter-7-bankruptcy-again/
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