When many of us hope to never face a financial crisis, there are some who will face more than one in their lifetime. Often times life events such as an illness, or losing one's job can lead to bankruptcy and seeking a fresh start financially. You may find yourself asking, can I even file for bankruptcy again?
The bankruptcy code does not set a limit on the amount of times a person can file for bankruptcy, however they do set a time period requirement. Often referred to as the “2-4-6-8” rule this rule helps people figure out when they might be eligible to file for bankruptcy again.
Understanding the “2-4-6-8 Rule”
This rule helps to set a time frame on your eligibility requirements for multiple bankruptcy filings.
- If you have received a discharge in a Chapter 13 Bankruptcy you must wait a minimum of 2 years from the date of filing to file for Chapter 13 Bankruptcy again.
- If you received a discharge in a Chapter 7 Bankruptcy, you must wait a minimum of 4 years from the date of filing to file for Chapter 13 Bankruptcy.
- If you have received a discharge in a Chapter 13 Bankruptcy you must wait a minimum of 8 years from the date of filing to file for Chapter 7 Bankruptcy.
- If you have received a discharge in a Chapter 7 Bankruptcy you must wait a minimum of 8 years from the date of filing to file for Chapter 7 Bankruptcy.
About the Law Offices of Nicholas J Del Pizzo
The burden of overwhelming debt can be too much for anyone to handle. That is where the Law Offices of Nicholas J Del Pizzo can help. At our Baltimore Law Office, our knowledge and experience in bankruptcy law can help you get the fresh start you need by wiping out your debts, reorganizing your finances, and saving your home. To learn more about filing for bankruptcy in Baltimore please contact The Law Offices of Nicholas J Del Pizzo.