How Often Can You Apply for Chapter 7?

Some people file bankruptcy more than once.

After Previous Chapter 7 Bankruptcy

Someone with a previous chapter 7 bankruptcy has to wait eight years before filing another chapter 7 bankruptcy, according to the website Lawyers. This type of bankruptcy dismisses most debts, but negatively affects credit for at least seven years.

After Previous Chapter 13 Bankruptcy

Someone with a previous chapter 13 bankruptcy only has to wait six years before filing a chapter 7 bankruptcy, states the website Lawyers. This type of bankruptcy requires repayment to creditors based on a designated payment schedule.

Bottom Line

Since chapter 7 bankruptcy erases most debts, rules for subsequent chapter 7 filings prevent people from filing too often. People with another chapter 7 must wait eight years to file another chapter 7, but only have to wait six years after a chapter 13 bankruptcy.

References

• Lawyers: Bankruptcy FAQ