Can You File For Chapter 7 Bankruptcy More Than Once?

Can You File For Chapter 7 Bankruptcy More Than Once?
Corey Beck

Have you already filed for bankruptcy, but find yourself drowning in debt once more? The Law Office of Corey Beck is here to help you research who can file chapter 7 bankruptcy and what the benefits are after filing bankruptcy. In this blog, we’ll shed some light on whether you can file bankruptcy more than once.

What is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is a legal process designed to eliminate unsecured debts such as credit card bills, medical bills, and personal loans. It's often referred to as a "fresh start" bankruptcy because it allows individuals to wipe the slate clean and rebuild their finances.

In order to file for bankruptcy, it is advised to seek counsel from a bankruptcy lawyer. The legal office of Corey Beck has been a bankruptcy law firm for over 28 years, and our team can provide you with expert insight, advice, and legal consultation. What bankruptcy lawyers do is advise you on the eligibility requirements and qualifications for different bankruptcy chapters as well as offer guidance on how bankruptcy will affect your credit, debts, and future financial decisions.

Can I File Chapter 7 Bankruptcy Multiple Times?

Bankruptcy paperwork piled up on wooden desk

Now, can you file for Chapter 7 bankruptcy more than once? The short answer is yes, but with certain limitations. In the United States, bankruptcy laws are governed by federal law, specifically the Bankruptcy Code. According to the Code, there's no limit on how many times you can file for Chapter 7 bankruptcy. However, there are restrictions on how often you can receive a discharge of debts.

Typically, you must wait eight years from the date of a previous Chapter 7 discharge before you can file for Chapter 7 bankruptcy again and receive another discharge. This waiting period is in place to prevent abuse of the bankruptcy system.

How Often Can You File Bankruptcy in Nevada?

The frequency with which you can file for bankruptcy in Nevada is governed by federal bankruptcy laws, which apply nationwide. In Nevada, as in the rest of the United States, you must wait 8 eight years between Chapter 7 bankruptcy filings to receive a discharge.

If you're considering filing for Chapter 7 bankruptcy in Nevada, you may be searching for where to file bankruptcies near you. That is where our team here at the legal office of Corey Beck steps in. 

We will be here to assist you with filing for bankruptcy here in Las Vegas by advising you on whether Chapter 7 bankruptcy is the right option for you. We will also help you gather the necessary documentation and fill out the required paperwork. You may be wondering, “Do you have to go to court to file bankruptcy?” While you will have to attend a meeting of creditors, which is usually held at a courthouse, the process is relatively straightforward and typically does not involve appearing before a judge.

What Are Some Potential Positive Outcomes of Filing for Bankruptcy?

young couple comforting each other while facing bankruptcy

Filing for bankruptcy can provide a range of potential positive outcomes for individuals struggling with unmanageable debt. One of the primary benefits is the ability to completely eliminate, or "discharge," most types of unsecured debt, such as credit card balances, medical bills, and personal loans. This debt elimination can give individuals a fresh financial start and the opportunity to rebuild their credit over time. 

Bankruptcy can also help protect certain assets, like a person's home, car, retirement accounts, and household items, from being seized by creditors. This protection can help individuals maintain financial stability during the bankruptcy process. Furthermore, by discharging or restructuring overwhelming debts, filing for bankruptcy can significantly reduce the stress and anxiety that often accompanies being overwhelmed by unmanageable debt. 

Seeking Assistance From The Law Office of Corey Beck

My team has been representing clients all across the Las Vegas valley and doing what bankruptcy lawyers do best, helping you secure your financial future without any worries or stress. If you are seeking financial freedom by filing for bankruptcy, schedule a consultation with our office today and learn more about how we can help. 

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