Financial troubles can happen to anyone. Even the most financially responsible
people can experience hardships that lead them into overwhelming debt,
including the loss of a job, a long-term illness, or any other unforeseen
personal crisis. Debt troubles can happen at any time and may happen more
than once, and thankfully, bankruptcy can be an option to get the relief you need.
How often you can file for bankruptcy depends on the type of bankruptcy
you have filed for in the past and how long it has been since you received
a discharge. If you plan to file for Chapter 7 bankruptcy, you will be
able to file a new case after eight years of receiving your discharge
for a previous Chapter 7 case, or six years after a discharge from a prior
Chapter 12 or 13 case. If you are currently considering filing for Chapter
13, you may do so four years after receiving a discharge under Chapter
7, 11, or 12, or two years after a discharge from a Chapter 13 case.
If your last case did not result in a discharge, these time restrictions
may differ. Talk to our bankruptcy lawyers to determine how your past
bankruptcy filing may affect your current plans to file again.
Limits to Automatic Stay
When you file for bankruptcy, you are granted the protection of an
automatic stay, which halts creditors from contacting you or attempting to collect on
debts while your case proceeds through the bankruptcy process. For a first
bankruptcy, this stay may last through most of your case. However, if
you have filed for bankruptcy more than once in a year, this stay may
be reduced to only 30 days, or may not be available at all after two or
more filings in the same year.
Keep in mind that there is a difference between filing for bankruptcy and
receiving a discharge, and that a discharge is not necessarily the end
goal in every case. Some people can benefit simply from the automatic
stay protection that bankruptcy provides. Call an attorney from our firm
to determine the best options for your case to help achieve your individual goals.
For further questions about filing for bankruptcy, please contact an experienced
and dedicated Dallas bankruptcy lawyer from Allmand Law Firm, PLLC. Take
the first steps toward financial freedom by calling (214) 884-4020 to
schedule a FREE financial empowerment session with our team.