I Was Bankrupt Before, Can I File Bankruptcy Again?
There is nothing to stop you from filing bankruptcy as many times as you want, but whether or not your debts will actually be discharged is another question. A San Diego Chapter 7 and Chapter 13 debt relief lawyer will have to help with that.
The short answer is you can have your debts discharged in a San Diego bankruptcy one time in eight years. If you file bankruptcy and the bankruptcy judge sees you are attempting to discharge debts within eight years of your previous bankruptcy, the judge will NOT grant your discharge.
Eights years is a long time, so one must make sure to plan properly and be financially responsible during this time. We certainly understand that some financial hurdles are out of your control, but the ones you DO control must be taken care of.
If you are considering filing for bankruptcy protection, we often times recommend people stop paying their bills for a couple months. Then SAVE the money so that after the discharge you will be in a strong financial position to proceed. Do not go out and incur huge amounts of debts which will put you in the same position as before. In fact, the position will be WORSE because you will not be able to file for San Diego bankruptcy debt relief.
As we have recommended at other places on this site, we feel strongly that you should establish credit right away. But, it must be responsible credit and only use that credit when you know 100% you can afford it.
Filing for bankruptcy protection in San Diego comes with limits that must be adhered to. The bankruptcy system imposed these limits so it is not taken advantage of. If you think about it carefully, our entire credit and banking system would collapse if one could file a San Diego bankruptcy every six months, for example, and discharge their debts. Credit cards and loans are an important part of our financial system, a system which needs respecting.
At Thompson | Wedeking, we have helped thousands of individuals with San Diego foreclosure, debt relief and Chapter 7, Chapter 11 and Chapter 13 bankruptcy. Call our office TODAY at 619.615.0767.