How Many Years Must Pass Before I Can Claim Bankruptcy Again?
There are two major types of consumer bankruptcy that people may file when overwhelmed with too much debt. Chapter 7 bankruptcy allows legal forgiveness of almost all debts, with some exceptions such as most student loans and child support. Chapter 13 is a debt repayment plan where consumer debts are restructured and in some cases lowered. There are limits on how often people can file bankruptcy, depending on what type of case they pursue.
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Chapter 13
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If you only pursue Chapter 13 bankruptcy, you can file a new case every two years.
Chapter 7
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People who are only interested in Chapter 7 can file new cases every eight years.
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Chapter 7 and 13
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If someone files a Chapter 7 case and then finds out he is in more financial trouble, he can file a Chapter 13 case within four years of the conclusion of the Chapter 7 bankruptcy proceeding.
Chapter 13 and 7
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A person with a recent Chapter 13 case may be able to declare Chapter 7 bankruptcy immediately if her circumstances have significantly changed. This is usually at the federal court's discretion.
Credit Reporting
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Every Chapter 7 case remains on a credit report for 10 years, while Chapter 13 filings are reported for 7 years.
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