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  1. #1
    Join Date
    Sep 2006

    Unhappy Can You File For Bankruptcy Twice

    My husband and I filled chapter 13- 5 years ago and it took a toll on us. We had a bad layer to begin with who should have suggested a chapter 7 to begin with. We completed the chapter 13 in full and was discharged 2 years ago and since then I have lost a very high paying job and cant't find anything close to what I was making before. I live in Indiana!Our quality of life has changed so much . We struggled to complete the 13 and are no better off today then we were when we started this issue 5 years ago. I know we need money managment classes but if you just dont have the money to pay bills what are you to do? I was wondering if we could file a chapter 7 now or not. Someone told me that any chapter is still a chapter and I would have to wait the 7 year mark. I cant find any bankruptcy web sit that states this exact info and would greatly appreciate what advise you can give.

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: bankruptcy twice?

    You may not be eligible for Chapter 7 bankruptcy following the Bankruptcy Reform Act. Beyond that, your eligibility depends on how much you paid off in the prior Chapter 13 proceeding. If it was less than 70% of your debt to unsecured creditors, you must wait six years after your filing date from the original bankruptcy action. If it was more than 70%, generally speaking, you should be eligible to file now.

    A bankruptcy lawyer can review your situation and confirm if you are eligible for Chapter 7 post "reform", and if you are presently eligible to file.

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