Can I File Bankruptcy Again?

If you’ve already filed bankruptcy and now find yourself back in debt, you’re not alone. With the difficult economic times of today, it’s not uncommon for people who have previously filed bankruptcy to find themselves in financial difficulties again. A recurring question we hear at Wagner Law Office, P.C. is . . . can I file a bankruptcy case again even though I have already filed in the past?

Fortunately for most people in this situation, the answer is YES! You are able to file for bankruptcy protection again if you need to do so. In fact, there’s no specific legal limit on the number of times that you can file for bankruptcy in Colorado. However, there are limits on how frequently you can receive what you seek from a bankruptcy filing — a discharge of your debts.

While there are certain nuances and exceptions that must be reviewed, the following are the time limits you must be aware of when determining whether or no you can receive a discharge of your debts:

  • Chapter 7 after Chapter 7 — 8 years between the dates of filing of the first Chapter 7 and the second Chapter 7.
  • Chapter 7 after Chapter 13 — 6 years between the dates of filing Chapter 13 and Chapter 7.
  • Chapter 13 after Chapter 7 — 4 years between the dates of filing Chapter 7 and Chapter 13 (most common situation).
  • Chapter 13 after a Chapter 13 — 2 years between the dates of filing the first Chapter 13 and the second Chapter 13 (most rare situation).

If you’ve filed bankruptcy in the past but find yourself in difficult financial times again, please know that you have options available and can obtain relief from your debts again. Even if you are not eligible for a discharge, you can still seek protection from your creditors by filing bankruptcy. Call today for your free consultation with a bankruptcy attorney at Wagner Law Office, P.C. to further discuss your options and find out if filing another bankruptcy is right for you.