Filing Bankruptcy More Than Once In Texas
• Bankruptcy Areas •
Multiple Bankruptcy Filings
Job loss. Divorce. Unexpected injury or illness. These are just the tip of the iceberg in terms of the disasters that lead people to filing bankruptcy.
At the law firm of Hickson Law, PC, our attorney has spent decades helping people in Austin and throughout Texas overcome debt and get their lives back on track after a disaster. She knows all too well that there is no cosmic rule that says people can suffer no more than one disaster in their lifetime, although we certainly wish that were the case. The reality is that we have helped many people who have needed to file bankruptcy more than once before they could find the fresh start they had been looking for.
Our firm features a Consumer Bankruptcy Attorney certified by the Texas Board of Legal Specialization who will provide you with the help you need in a nonjudgmental environment, whether you are interested in filing for the first time or you have been down this path before.
The Rules Change After the First Time
It is important to be aware that a significant amount of time must elapse in order for you to be eligible to file a second bankruptcy or subsequent bankruptcy.
- After a Chapter 7 discharge, you must wait eight years before filing a new Chapter 7 or four years before filing a new Chapter 13
- After a Chapter 13, you must wait six years before a new Chapter 7 can be filed or two years before filing a new case under Chapter 13
If you are eligible to file bankruptcy again, there may be additional restrictions. The automatic stay that stops collection activities is different in a second and third bankruptcy. A case filed within one year after dismissal of the first one will have the automatic stay terminated within 30 days unless the court finds that the case was filed in good faith. If there is a third filing within one year, there is no automatic stay, unless the court affirmatively imposes one. Our attorney will exercise extra care to ensure that you are guided safely through the process.