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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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I personally filed Chapter 7 in Feb 2005, it was finalized

Resolved Question:

I personally filed Chapter 7 in Feb 2005, it was finalized in May 2005.....

My business (Construction) has been going down hill the last couple of years and I just can't seem to hold to it anymore...there are glimmers of light here and there but not enough to sustain things. Since I filed in 2005, can I file again both persoanally and my business...?

The 'wrinkle' to filing is (if I can)... is that I have a judgement against me persoanlly and against my business. I signed an agreement several years ago and there is a paragraph in that agreement that even if I were to file bankruptcy, that document would supercede anything in bankruptcy court...

My question(s):
1). Can that paragraph even be legit, will it hold up in court...?
2). Can I file for bankruptcy again (I have heard you can't do it for 10yrs after you've filed once before)....
3). Is there an advantage to Chapter 13 vs. 7....?

Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 5 years ago.

Hi JACustomer,

1) The anti-Bankruptcy clause would not be enforced if you file a Bankruptcy. In other words, you would still be able to have that debt discharged if you file.

2) You can file another Chapter 7 Bankruptcy 8 years after the prior one was filed, and you can file a Chapter 13 4 years after the Chapter 7 was filed.

3) In general, a Chapter 13 is filed when one's income is too high for a Chapter 13, or if the debtor has non-exempt assets (such as a house with significant equity) that he wants to keep.


I think this is what you wanted to know. If not, please let me know.
Thank you!

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Customer: replied 5 years ago.


1). If I file Chapter 13.. can it be converted to a Chapter 7 down the road (after the 8yr period) if I can't pull out of this tailspin...?

2). Being self employeed, I don't show/take an income'... can I still file Chapter 13...?




1). I need to protect some cash and income from a judgement, If I file Chapter 13 how does it effect my business cashflow/income...?

2). Do projects under construction come to a halt, can I still proceed with them, etc ...?

3). Do I have to do anything special (paperwork, banking, etc)....?

Customer: replied 5 years ago.
Relist: Other.
Hasn't responded in over a week ++
Expert:  cfortunato replied 5 years ago.
Sorry! I was not aware of your Reply.
1) Yes - you can convert a Chapter 13 to a Chapter 7. However, the Chapter 7 will have the same filing date that the Chapter 13 did. This means no discharge for a converted Chapter 7 if the Chapter 13 was filed less than 8 years after the prior Chapter 7.
2) You must have/show an income in order to file a Chapter 13. Additionally, you have to submit your income tax returns for the 2 years prior to filing.
1,2,3) Your business will not be affected by your Chapter 13 filing.
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