When May I File Bankruptcy Again?
If you fall back into debt after you file for bankruptcy, you can't just declare bankruptcy again. To prevent people from exploiting the system, the federal government limits how often you can file. The limit varies depending whether your last bankruptcy was Chapter 13---in which you pay off some of your debts over several years---or Chapter 7, in which the bankruptcy court liquidates your assets to pay your creditors.
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Time Frame
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The time between bankruptcies isn't measured from when the bankruptcy court discharged your debts, but when you filed your petition. If your previous filing was Chapter 7, you have to wait eight years to file Chapter 7 again. If you want to file Chapter 13, the wait is only four years. If your earlier bankruptcy was Chapter 13, you usually have to wait two years to file Chapter 13 again, six years to file Chapter 7.
Dismissal
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If you didn't receive a discharge the last time you filed bankruptcy, the rules are different: You only have to wait 180 days after the court dismissed the previous filing before you can reapply. Courts can dismiss your filing because you failed to attend a scheduled hearing, failed to follow the court's orders or because the judge discovered you concealed information about your finances. If you asked for the case to be dismissed, the same time limit applies.
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Before Filing
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One of the requirements for filing bankruptcy is that sometimes in the 180 days leading up to your filing, you should complete a credit-counseling class from a federally approved counselor. You can find a list of counselors for your state on the U.S. Department of Justice website (see Resources). If you file for bankruptcy again, you'll have to complete another class. You will also have to pay the bankruptcy filing fee again, though you can apply for a waiver if you're poor and filing Chapter 7.
Median Income
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The median income in the state where you live will affect your bankruptcy petition. To qualify for Chapter 7, your average income for the previous six months has to be less than the median, unless you can pass a "means test" for adjusting your income. The Chapter 13 payment plan runs three years if your income is below the median, or five years if it's above. The median income isn't a fixed figure. It changes as the state economy changes, so don't assume that because you qualified eight years ago, you can do so again.
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