Time between Bankruptcies

According to the Bankruptcy Abuse Prevention and Consumer Protection Act, a debtor must wait a predetermined amount of time before they are allowed to file for a second or additional bankruptcy. The law changed this wait time in an effort to cut back on debtors taking up considerable amounts of debt without any measure of responsibility, and promptly defaulting on those debts. However, this wait time can put considerable strain on debtors who need Chapter 7 protection.

To discuss your bankruptcy options when filing for a second or additional bankruptcy, contact the Birmingham bankruptcy attorneys of [firm-name], at [phone-number] today.

Changing Wait Times under BAPCPA

According to the 2005 changes to the bankruptcy code created under BAPCPA, a debtor now has to wait longer to file for bankruptcy if this is their second or more filing. According to BAPCPA regulations, the following wait times must be followed:

  • After BAPCPA, Chapter 7 debtors must wait 8 years between bankruptcies
  • Before BAPCPA, Chapter 7 debtors waited 6 years between bankruptcies
  • Chapter 13 debtors must wait 6 years between bankruptcies

While BAPCPA affected the wait time between Chapter 7 bankruptcies, the law had no effect on Chapter 13 bankruptcy wait times.

Contact Us

If you are considering filing for bankruptcy, there may be many limitations imposed by recent changes to the Bankruptcy Code. To learn more about your legal options when you are considering bankruptcy, contact the Birmingham bankruptcy lawyers of [firm-name], by calling [phone-number].

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