No one wants to go bankrupt. However, in some cases, you just have to file for bankruptcy to help you start a new life. When you consult our bankruptcy lawyer in Sherman Oaks, you will know what to do upon filing.
Filing for bankruptcy might be necessary to help you move on. Unfortunately, there are some cases where filing for another bankruptcy is necessary. These cases would include a job loss or a surprise medical bill.
When you face any of that kind of financial stress, you might need to file another bankruptcy. However, filing for a second time is never easy.
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There is no law that prohibits you from filing for bankruptcy. You can file as many times as you wish. But, there is a limit on how long you have to wait after your previous bankruptcy filing before you can file again.
If you have filed for chapter 7 before, you will have to wait for eight years to file again. That means you will need to wait for eight years from the date you filed your previous chapter 7. – If you have received a discharge in a previous Chapter 13 Bankruptcy, then you must wait 2 years from the date of filing of your previous Chapter 13 bankruptcy. For example, if you filed your previous Chapter 13 case in September 25, 2012, you will be eligible to file and receive discharge in another Chapter 13 Bankruptcy as of September 25, 2014. Filing prior to the 2 year waiting period will result in the denial of discharge and you will be liable for all debts that were not paid through the chapter 13 bankruptcy.
If you file second bankruptcy within a year, automatic stay on all collections will be in effect for only 30 days unless motion to extend the stay is filed within 30 days
Our lawyer will also deal with the appointed trustee. Keep in mind that when the trustee finds out that you will file another bankruptcy, the trustee will probably tell the court that it will be unwise to give you a bankruptcy discharge.
In other words, multiple bankruptcies may indicate that you are abusing the system. It raises red flags for trustees. You are encouraging the trustees to look closely at your case to know whether or not you working hard to pay your debt.
However, if you really need to file a second bankruptcy, you should work with an experienced attorney. At Tenina Law office, we can help you determine the right option if you wish to consider a subsequent bankruptcy. Our lawyer has experience in dealing with multiple cases of a bankruptcy filing.
Tenina Law, Inc is a well-established firm. We offer legal services for various engagements to meet the requirements of our clients. Our bankruptcy attorney will help you in making the right decision. Perhaps you do not need subsequent filing. When you talk to our lawyer, you will know what to do on how to deal with your debt.
If you are ready to file for bankruptcy again or if you are not sure if you need it, contact our bankruptcy lawyer in Sherman Oaks at (213) 596-0265.