Monday, June 29, 2020

How Many Times Can You File for Bankruptcy in Ohio?

Bankruptcy can provide much-needed relief to those who find themselves in a financial struggle. Post-bankruptcy can feel like a fresh start for a brighter financial future. What happens, however, if you find yourself in financial struggle once again? Life can get complicated and expensive. There is no guarantee that life after bankruptcy will be free from financial strain. Should you find yourself having difficulty making minimum payments and keeping up with your financial obligations even after you have filed bankruptcy, you are probably wondering if there is a limit to how many times you can file for bankruptcy in Ohio. Here, we will provide you with some answers and information on just that.

How Many Times Can You File for Bankruptcy in Ohio?

While there is no set limit on the number of times you may file for bankruptcy in Ohio, there are timeframes in place that will prevent you from filing for bankruptcy within a certain amount of time after your other bankruptcy discharge. If, for some reason, you did not receive a discharge in your prior bankruptcy filing, you may still be able to receive a discharge without any restriction on time. This will depend, however, on why you did not receive a discharge in the first place.

It is important that you are aware of and observe the timeframe restrictions on filing for bankruptcy again. Should you attempt to seek bankruptcy relief before the allotted time restriction has passed, you will be throwing away your time and money. The precise amount of time you must wait before filing bankruptcy again will depend on what type of bankruptcy you previously filed for and what type of bankruptcy you are currently seeking.

Let us take a look at the timeframe restrictions for two of the most popular consumer bankruptcy filings: Chapter 7 and Chapter 13. If you previously filed Chapter 7 bankruptcy and are looking to file Chapter 7 once again, you will have to wait 8 years from the date you filed your previous Chapter 7 case before you can once again receive a discharge on your debt. If you previously filed Chapter 13 bankruptcy and are looking to once again file for Chapter 13 bankruptcy, then you will need to wait two years from your previous filing date. Chapter 13 repayment plans, however, can take between 3 to 5 years to complete.

If you previously filed Chapter 7 and now want to pursue Chapter 13 bankruptcy, you have to wait four years from your Chapter 7 filing date to be eligible for Chapter 13 bankruptcy discharge. If you previously filed Chapter 13 and now want to pursue Chapter 7 bankruptcy, you must wait until four years pass from the date you filed Chapter 7 bankruptcy. In some cases, your previous bankruptcy case may have been dismissed with prejudice. While this does not mean that you are prevented from ever filing for bankruptcy again, it does mean that the court can put temporary restrictions in place for when you are able to refile. Once the court imposed time restriction passes, you can try filing once again.

Miami Valley Bankruptcy Attorneys

Sometimes, we fall upon hard times. Sometimes, we fall on a series of hard times. If you are looking for financial relief, even if you have previously filed for bankruptcy, bankruptcy may provide you with much-needed help. Talk to our team of trusted bankruptcy attorneys at Miami Valley Bankruptcy to discuss your options. Contact us today.

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Miami Valley Bankruptcy, Brian Lusardi, Esq., assists clients with Bankruptcy matters including but not limited to: Common Myths, Cost of Bankruptcy, Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, The New Bankruptcy Law and Personal Bankruptcy in Xenia, Ohio, and the cities of: Wilberforce, Alpha, Spring Valley, Dayton, Bellbrook, Yellow Springs, Cedarville, Fairborn and Clifton; and the counties of Greene and Montgomery.

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