You’ve probably heard that you can’t file for bankruptcy more than once. This isn’t true. There is no law that says you can only file for bankruptcy one time. However, it can be complicated and you should work with an experienced bankruptcy attorney to help you.
The two most common types of bankruptcy people file are Chapter 7 and Chapter 13 bankruptcies. If you’ve filed one of these, there are at least a couple ways for you to re-file in New Jersey.
Re-Filing After a Chapter 7 Bankruptcy
You’ve filed a Chapter 7 (a straight or liquidation bankruptcy) to eliminate your most significant debts, but now you’re finding yourself in trouble with the same kinds of debt. If you filed for Chapter 7 within the last eight years, your best option is to file for Chapter 13 bankruptcy. Filing for Chapter 13 can completely wipe out many of your debts, but you’ll still need to pay for your car or house.
Re-Filing After a Chapter 13 Bankruptcy
Maybe you’ve filed for Chapter 13 bankruptcy to get yourself out of financial trouble while still keeping your home. However, since then you’ve accumulated more debt and another Chapter 13 just wouldn’t cut it this time. In this instance, you might want to consider filing a Chapter 7 bankruptcy to quickly discharge your debt.
This article should not be taken as legal advice. If you’re considering bankruptcy or another legal debt relief option, you need to consult an attorney for guidance. If you’re in New Jersey and seeking legal assistance, we can help you.
Brenner Spiller & Archer is a New Jersey law firm that is dedicated to helping families find relief from the burden of debt and other financial woes. For more than 35 years, our bankruptcy lawyers have provided effective guidance on all debt relief matters to clients throughout Central and South Jersey.