Livonia Michigan Bankruptcy - Michigan Bankruptcy Blog

Livonia Michigan Bankruptcy

Michigan Bankruptcy Blog

“Y” is for Years between Bankruptcy Filings

Posted by Peter Behrmann, Esq. On August 6th

“Y” is for Years between Bankruptcy Filings

First things first, 90% of our clients have never filed bankruptcy before.  However, if you have filed bankruptcy in the past it is very important that you understand the years required between Chapter 7 and Chapter 13 bankruptcies.

The first issue to understand is the reason there are limits on the number of times you can file bankruptcy and receive a discharge. The most basic reason is to prevent people from taking advantage of the bankruptcy process.  Bankruptcy is a powerful tool that has helped countless people in times of financial stress, but it is not to be taken advantage of and having time limits in place prevent abuse of the bankruptcy process.

If you have previously filed a Chapter 7 Bankruptcy and wish to file a second Chapter 7 Bankruptcy there must be 8 years between the date you filed your first Chapter 7 to the date of your second filing.   One of the most common misconceptions is that the time frame is 6 or 7 years.  The time frame was extended to 8 years with the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. 

If you have previously filed a Chapter 7 Bankruptcy and wish to file a second Chapter 13 Bankruptcy there must be 4 years between the date you filed your first Chapter 7 to the date of your second filing.  

If you have previously filed a Chapter 13 Bankruptcy and wish to file a second Chapter 13 Bankruptcy there must be 2 years between the date you filed your first Chapter 13 to the date of your second filing.   In theory, this time frame will almost never be a factor because most Chapter 13s take longer than 2 years to complete.

If you have previously filed a Chapter 13 Bankruptcy and wish to file a second Chapter 7 Bankruptcy there must be 6 years between the date you filed your first Chapter 7 to the date of your second filing under most circumstances. 

 

Peter Behrmann is a Livonia Bankruptcy Attorney.  From my Livonia, Michigan location, I represent clients throughout Metro Detroit and beyond, including Garden City, Wayne, Westland, Redford, Dearborn, Taylor, Ann Arbor, Belleville, Northville, Novi, Farmington, Farmington Hills, Plymouth, Canton, and the Counties of Wayne, Oakland, Livingston, and Washtenaw. My practice is limited to helping consumers like you file Chapter 7 and Chapter 13 Bankruptcy, and Foreclosure Prevention.

Photo Credit: Leo Reynolds

 

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