Bankruptcy is a process that helps people relieve their debts. After someone’s debts are successfully resolved, they can accumulate new debt obligations. 

If these new debt obligations become too much, bankruptcy can be filed again. However, debtors will likely need to wait several years before they can file again. Here is how long debtors will need to wait to file for bankruptcy again:

When can you file for Chapter 7 bankruptcy?

Chapter 7 bankruptcy is often the easiest and most preferred choice to resolve debts. Because of this, filers often have to wait longer before seeking Chapter 7 bankruptcy again.

If someone resolves their debts through Chapter 7 bankruptcy and wishes to do it again, they may need to wait 8 years. However, if they previously filed for Chapter 13 bankruptcy, they may only need to wait 6 years.

When can you file for Chapter 13 bankruptcy?

Chapter 13 bankruptcy reorganizes a filer’s debts so they are easier to pay off. This is the preferred option for people who are struggling to make full payments on their debts.

If a debtor wants to file for Chapter 13 bankruptcy after a successful Chapter 7 bankruptcy, they may need to wait 4 years. However, it may only take 2 years to file for Chapter 13 after a Chapter 13 filing.

If you are seeking a debt resolution option again, you may need to seek legal guidance to learn more about the bankruptcy process.