Filing for bankruptcy for people who are trying to improve their financial circumstances because if successful, they can discharge some of their debts. This process also gives people the opportunity to learn better spending habits and other financial skills to hopefully improve their future finances. However, some New Yorkers who have already filed for bankruptcy once wonder if they are able to file again. To find out, read this blog or contact a New City, New York Bankruptcy Attorney today for more information.


Technically, there are no laws preventing you from filing for bankruptcy as many times as you would like. That being said, it’s pretty rare for someone to file for individual bankruptcy more than twice. Once you’ve already filed once and had your debts discharged, you won’t get the same exact benefits if you file for a second time. Specifically, you’ll need to wait a certain time period in order to have your debts discharged again. This time period depends on which type of bankruptcy you filed for the first time.

Chapter 7, which is a liquidation type of bankruptcy, works best for low-income debtors and businesses. If you file for bankruptcy under Chapter 7, you’ll need to wait eight years before you can file again (no matter what type the second bankruptcy is). Chapter 13 is a reorganization type of bankruptcy for individuals who don’t qualify for Chapter 7. If you file a first bankruptcy claim under Chapter 13, you’ll likely only have to wait around four years before you can file again.


If you don’t wait the proper time period for your type of bankruptcy, you won’t be able to discharge all of your debts. This can be undesirable for many individuals and businesses who can benefit from debt relief. Therefore, if you’re planning to file for bankruptcy again before the aforementioned time periods, you should contact a bankruptcy lawyer first. There are some instances where you might not need to discharge your debts to benefit from a bankruptcy claim. A knowledgeable lawyer can help you determine the best options for you.

Are you planning on filing for bankruptcy in New York? You might want to speak with a trusted bankruptcy attorney who has your best interests in mind first. Thankfully, the Lauterback Law Firm is on your side! Contact our talented team for an initial consultation.