Discharge

You can receive a discharge from Chapter 7 bankruptcy once every eight years and from Chapter 13 bankruptcy every two years.

Waiting Periods

If you get discharged from Chapter 7, you must wait six years before getting discharged from Chapter 13. If you get a Chapter 13 discharge, you must wait four years to get discharged from Chapter 7. You must wait six years between Chapter 7 bankruptcy filings.

Application Denial

The bankruptcy court will scrutinize multiple filings and may deny a person the ability to refile a case if filings are an abuse of the bankruptcy code. For example, if you are habitually charging up credit cards and try to come back to bankruptcy court again and again, your case may be denied.

Finalization

A Chapter 7 bankruptcy takes about four months until the discharge is received. At this point, the bankruptcy becomes final.

New Legal Provisions

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 included the following provisions: Before filing for bankruptcy, a debtor must have a briefing on bankruptcy alternatives; and before receiving a bankruptcy discharge, a debtor must complete an instructional course on personal financial management. These provisions are designed to help avoid multiple bankruptcy filings, though such filings are still legal.

Source

Bankruptcy Myths