How to File for Bankruptcy Twice
File the first Chapter 7 case., Make note of your filing date., Work with the Chapter 7 trustee to get your discharge., Attend the meeting with creditors., Receive your discharge., Wait eight years to file another Chapter 7.
Step-by-Step Guide
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Step 1: File the first Chapter 7 case.
To file bankruptcy, you need to prepare reports called “schedules,” which list all your assets and debts.
You will file these with a bankruptcy petition at the Bankruptcy Court in the state where you live.
You can find all the forms that you need to file bankruptcy at http://www.uscourts.gov/forms/bankruptcy-forms.
You are allowed to file bankruptcy on your own, but consulting with an attorney is strongly encouraged.
If you search online for the bar association in your area, you may be able to find lists of attorneys.
Many bankruptcy attorneys offer to handle cases for low, flat fees.
You should also check out Choose a Bankruptcy Attorney for help finding a bankruptcy attorney. -
Step 2: Make note of your filing date.
The day that you go to court to file your bankruptcy petition is important.
This date starts the clock running on any subsequent case you may file.
Even though your first case may remain open for some time (usually six to nine months), the effective date to measure for a subsequent discharge is the filing date., The Chapter 7 trustee is an individual (usually an attorney, but not always) who reviews all your paperwork.If the trustee has questions about any of your reports, he or she may ask you for more information.
It is your obligation to cooperate with the trustee.
The trustee has the power to object to your discharge if he believes that you have not reported information honestly., Early in the case, you will receive a notice to appear at a Meeting of Creditors.
This is a meeting that is run by the Chapter 7 trustee.
In the meeting, the Chapter 7 trustee will review your petition and schedules and will ask you any questions that he or she may have.
After that, your creditors are allowed to ask any questions.
The questions at the creditors meeting may be directed at the reasons for your filing, your intentions to repay, or any assets that they believe you may not have reported accurately.
You are required to attend the meeting and answer everything truthfully.All your creditors are notified and are invited to attend this meeting.
In many cases, however, few creditors choose to attend. , As long as the Chapter 7 trustee has no questions or concerns, and your creditors don’t take any action to delay your discharge, then the rest of your bankruptcy case is a fairly simple formality.
After 60 days from the meeting of creditors, the court will enter your discharge.Sometime after the discharge enters, the court will close your bankruptcy case.
However, the date of closing is not particularly important.
The more important date to remember was the date that you opened the case. , The Bankruptcy Code makes you ineligible for a second Chapter 7 discharge until after eight years from the petition date of your first Chapter 7 case.As long as you wait this long, your second case should go pretty much the same as your first.
In a second Chapter 7 case, you can probably expect the Chapter 7 trustee (who may or may not be the same person who handled your first case) to ask some additional questions about the reason for the multiple filings.
As long as enough time has passed, you do not need any special reason for a second filing. -
Step 3: Work with the Chapter 7 trustee to get your discharge.
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Step 4: Attend the meeting with creditors.
-
Step 5: Receive your discharge.
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Step 6: Wait eight years to file another Chapter 7.
Detailed Guide
To file bankruptcy, you need to prepare reports called “schedules,” which list all your assets and debts.
You will file these with a bankruptcy petition at the Bankruptcy Court in the state where you live.
You can find all the forms that you need to file bankruptcy at http://www.uscourts.gov/forms/bankruptcy-forms.
You are allowed to file bankruptcy on your own, but consulting with an attorney is strongly encouraged.
If you search online for the bar association in your area, you may be able to find lists of attorneys.
Many bankruptcy attorneys offer to handle cases for low, flat fees.
You should also check out Choose a Bankruptcy Attorney for help finding a bankruptcy attorney.
The day that you go to court to file your bankruptcy petition is important.
This date starts the clock running on any subsequent case you may file.
Even though your first case may remain open for some time (usually six to nine months), the effective date to measure for a subsequent discharge is the filing date., The Chapter 7 trustee is an individual (usually an attorney, but not always) who reviews all your paperwork.If the trustee has questions about any of your reports, he or she may ask you for more information.
It is your obligation to cooperate with the trustee.
The trustee has the power to object to your discharge if he believes that you have not reported information honestly., Early in the case, you will receive a notice to appear at a Meeting of Creditors.
This is a meeting that is run by the Chapter 7 trustee.
In the meeting, the Chapter 7 trustee will review your petition and schedules and will ask you any questions that he or she may have.
After that, your creditors are allowed to ask any questions.
The questions at the creditors meeting may be directed at the reasons for your filing, your intentions to repay, or any assets that they believe you may not have reported accurately.
You are required to attend the meeting and answer everything truthfully.All your creditors are notified and are invited to attend this meeting.
In many cases, however, few creditors choose to attend. , As long as the Chapter 7 trustee has no questions or concerns, and your creditors don’t take any action to delay your discharge, then the rest of your bankruptcy case is a fairly simple formality.
After 60 days from the meeting of creditors, the court will enter your discharge.Sometime after the discharge enters, the court will close your bankruptcy case.
However, the date of closing is not particularly important.
The more important date to remember was the date that you opened the case. , The Bankruptcy Code makes you ineligible for a second Chapter 7 discharge until after eight years from the petition date of your first Chapter 7 case.As long as you wait this long, your second case should go pretty much the same as your first.
In a second Chapter 7 case, you can probably expect the Chapter 7 trustee (who may or may not be the same person who handled your first case) to ask some additional questions about the reason for the multiple filings.
As long as enough time has passed, you do not need any special reason for a second filing.
About the Author
Tyler Bishop
Specializes in breaking down complex practical skills topics into simple steps.
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