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I had to file bankruptcy in 2001 was discharge in 2001. this year I have been sick and got laid off cant make my payment can I file for bankruptcy again?
Asked on May 12, 2009 under Bankruptcy Law, Virginia
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
Under the bankruptcy laws effective on October 17, 2005, Chapter 7 cannot be filed unless the debtor was discharged from the previous Chapter 7 or bankruptcy more than eight years ago.
The debtor cannot file a Chapter 13 unless: (1) the debtor received a discharge under Chapter 7, 11 or 12 more than four years ago; or (2) the debtor received a discharge under Chapter 13 more than two years ago.
Note: The above are discharge dates
Corporations frequently file under Chapter 11 - (a reorganization) - there are virtually no restraints to how many times or length of time between filings of this type, although the Court must agree that there is a benefit and possibility of a re-organization instead of a dissolution.
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