2nd bankruptcy

UPDATED: May 27, 2009

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2nd bankruptcy

i filed for bankruptcy in 2001. now work is slow and i’m overwhelmed i’m still empolyed but with fewer hours. i called my cards to work out something and they cut me off.should i file again. i own a home but owe on a 2nd–i’m highly leveraged.

Asked on May 27, 2009 under Bankruptcy Law, California


M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 13 years ago | Contributor

It's really a matter of finances was to whether or not you should file.  You would know better than I.  However it sounds as though you need some relief. 

Legally, they only question here is, can you file?  The Bankruptcy Laws were reformed in 2005 and have changed dramatically.  Many, if not most, filings are now being given a payment plan (Chapter 13) rather than being forgiven (Chapter 7).  The determining factors include your income and assets, if any, and if you have already gone bankrupt before.  The payment plans set up through the courts generally are spread out over a period of 5 years.


That having been said, the time limit between Chapter 7 filings is 8 years from the time of your first discharge; and the time for filing a Chapter 13 after a chapter 7 is discharge 4 years.  Therefore, from a time limit standpoint, you currently do qualify to file.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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