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JoeLawyer, Attorney
Category: Bankruptcy Law
Satisfied Customers: 767
Experience:  Attorney in the practice of Bankruptcy Law since 1996
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i have declared bankruptcy 4 years ago and now i see me ...

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i have declared bankruptcy 4 years ago and now i see me self falling again now i have a house car everything. After racking up tons of bills my fiancee split. Now i dont know what to do do. my house is worth maybe 150000 i owe 202000 and i owe about 18000 in bills. credit, loans what should i do i cant pay it anymore. can i declare again
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  JoeLawyer replied 8 years ago.

Hi loki:

You cannot file Chapter 7 within 8 years from the date of filing of a prior case that received discharge. So, if you filed 4 years ago and got a discharge, then you cannot file Chapter 7 for around 4 more years.

However, you can file Chapter 13 anytime after a prior case, but it is generally good to wait 4 years after the prior case to be sure you can get a discharge, and not just an automatic stay, in your new case. Since you said it was 4 years ago when you filed your earlier bankruptcy case, you should be pretty close to being able to file a Chapter 13 which can get a discharge.

Chapter 13 requires you to pay as much as you can to the court in monthly payments for 3 to 5 years, and at the end of the 3 to 5 years, your case is over and you get a Discharge. You don't have to pay everything you owe over 3 to 5 years, just as much as you can afford over that time, and whatever does not get paid is discharged.

This may be a great option for you so you can get instant relief from the $18,000 in bills plus let you surrender the house and car and discharge those liabilities as well. You may also be able to restructure your car loan so you can keep it. Speaking to your lawyer may give you other options as well, since Chapter 13 is generally very flexible in helping you restructure your debts.

I hope this helps and a positive feedback is always appreciated if this was useful to you.


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