I thought of taking the help of this forum for my friend Carolyn who had already filed Chapter 7 bankruptcy bankruptcy from credit card debts about 2 years back. She is again facing problems with her personal loans. She is wondering whether or not she can file a Chapter 13 bankruptcy. How soon can you file Chapter 13 or 7 after Chapter 7?
Sub: #1 posted on Sun, 09/15/2019 - 23:58
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Sub: #2 posted on Mon, 09/16/2019 - 00:42
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Sub: #3 posted on Mon, 09/16/2019 - 04:54
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The waiting period for filing another Chapter 7 is a relatively longer period. This is because in Chapter 7 your debts are wiped out, whereas in Chapter 13 you repay debts through a repayment plan over a period of 3-5 years. So, in Chapter 13, debtors usually pay a portion of their outstanding balances.
And, when you’ll be able to file another Chapter 7, you need to calculate the time from when the case started instead of the date you got discharge from your unsecured debts.
However, this time, if your friend wants to file a Chapter 13 bankruptcy, then she can file after 4 years after the initial filing of Chapter 7.
Moreover, you’ll also have to qualify for a bankruptcy chapter before you file one.
And another thing, a court can prohibit a person from filing bankruptcy if he/she has had committed some crime while filing the previous case. It can be failing to commit the court orders, hiding some assets, lying about bankruptcy papers, or if some kind of bad faith was associated. In such a situation, a bankruptcy court can prohibit a person from filing bankruptcy.
Sub: #4 posted on Tue, 09/17/2019 - 03:53
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So as of now, I would advice her to approach a genuine debt settlement company to pay off her debts. The financial advisors of the settlement company can guide her in a better way by keeping her present financial condition in view.
It might happen that your friend's personal loans get settled and she gets rid of her debts.
Sub: #5 posted on Fri, 09/20/2019 - 00:16
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Sub: #6 posted on Fri, 09/20/2019 - 04:58
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Sub: #7 posted on Mon, 09/23/2019 - 04:03
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