Bankruptcy Waiting Period

July 5, 2017

How Long is the Bankruptcy Waiting Period?

What is the time in which you must wait between filing one bankruptcy to the next?  The bankruptcy waiting period requires you to wait for eight years in between filing Chapter 7 bankruptcy cases.

The Bankruptcy Waiting Period is Based on the Bible

The United States bankruptcy code is patterned after the Bible’s required release of debts that occurred every seven years.  In conformance with the Bible, Congress established that the term was originally to be seven years for the bankruptcy waiting period.  In October 2005, the law was changed to make this period longer.  The bankruptcy waiting period is now eight years.  Remember, even if you’re a full eight years has not yet arrived, you may be able to take advantage of other forms of relief within the bankruptcy code.

Other Bankruptcy Waiting Periods

The other bankruptcy waiting periods determine how long you must wait between other chapters of bankruptcy.  If you’re going between Chapter 7 to Chapter 13, you must wait four years if you want to receive a discharge in the Chapter 13 case.

There are also other waiting periods such as going from a Chapter 13 to a Chapter 7. In such a case, you must wait six years from the date you filed a Chapter 13 to the date you filed for Chapter 7 if you received a discharge in the Chapter 13 case.   There are also less waiting periods in various other situations.

It is important to seek the guidance of an experienced bankruptcy attorney to make sure that you are fully utilizing the bankruptcy code to meet your needs.  Reviewing a bankruptcy waiting period chart may not fully explain what current rights you may be able to take advantage of within the bankruptcy code.

Bymaster Bankruptcy Law Offices offers free consultations.  If you have questions about bankruptcy give our office a call at 317-769-2244.

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