Myth No. 2: You Can Only File For Bankruptcy Once.

You can only file for Bankruptcy once!  This is not true.

However, there are limitations on how often you can file a bankruptcy.

If you have received a discharge in a Chapter 7 bankruptcy, you cannot file for a Chapter 7 bankruptcy again for 8 years.

You can file a Chapter 13 bankruptcy in less than 8 years from a Chapter 7 bankruptcy, however, if the Chapter 13  bankruptcy is filed within 4 years of the discharged Chapter 7  bankruptcy, you cannot receive a discharge in the Chapter 13 bankruptcy.

There are other limitations on the frequency of filing bankruptcy which may or may not apply to your particular facts and circumstances.

An experienced bankruptcy attorney can assist you in determining your rights under the Bankruptcy Code.

by , New Orleans, Louisiana bankruptcy lawyer.

About Kevin Gipson, Attorney at Law

I am an attorney licensed in all State and Federal Courts in Louisiana. I practice in the Greater New Orleans Area and work with Consumers to help them with their debt problems. My primary areas of practice are Chapter 7 and Chapter 13 bankruptcy and Student Loan Law.
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