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Can a person file a Chapter 13 bankruptcy within 2 years after filing a Chapter 7?

Can a person file a Chapter 13 bankruptcy within 2 years after filing a Chapter 7?

Full question:

Can a person file a Chapter 13 bankruptcy within 2 years after filing a Chapter 7?

Category: Bankruptcy
Date: 04/07/2025
State: Tennessee

Answer:

Please see the information and forms at the following links:

http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/chapter13.html

http://www.uslegalforms.com/bankruptcy/tennessee-bankruptcy-forms.htm

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

What is the average Chapter 13 monthly payment?

The average monthly payment for Chapter 13 bankruptcy varies widely based on individual circumstances, including income, debt amounts, and repayment plans. Typically, payments can range from a few hundred to several thousand dollars per month. The court will determine the exact payment based on your disposable income and the debts you need to repay. It's essential to work with a bankruptcy attorney to create a feasible plan that meets your financial situation.

Why do most Chapter 13 bankruptcies fail?

Most Chapter 13 bankruptcies fail due to missed payments, changes in financial circumstances, or failure to comply with the repayment plan. If a debtor cannot keep up with the monthly payments or fails to meet other requirements set by the court, the bankruptcy case may be dismissed. Proper budgeting and communication with your attorney can help mitigate these risks.

What is the 2 year rule for bankruptcy?

The 2-year rule in bankruptcy refers to the time frame within which a debtor can file for Chapter 13 after receiving a Chapter 7 discharge. Specifically, individuals can file for Chapter 13 bankruptcy within two years of their Chapter 7 discharge date. This rule is important for those looking to reorganize their debts after a previous bankruptcy.

Why would my Chapter 13 be denied?

A Chapter 13 bankruptcy can be denied for several reasons, including failure to submit required documents, inability to propose a feasible repayment plan, or not meeting the eligibility criteria. Additionally, if the debtor has not made the required payments or has not complied with court orders, the court may dismiss the case. Working closely with a bankruptcy attorney can help address these issues.

Can I file Chapter 13 2 years after Chapter 7?

Yes, you can file for Chapter 13 bankruptcy within two years after filing for Chapter 7. This allows individuals to reorganize their debts and create a repayment plan after previously discharging unsecured debts through Chapter 7. However, it's important to follow all legal requirements and consult with a bankruptcy attorney for guidance.

What would disqualify me from Chapter 13?

Several factors can disqualify you from filing for Chapter 13 bankruptcy, including having unsecured debts exceeding $419,275 or secured debts over $1,257,850 (as of 2023). Additionally, if you have not completed credit counseling or have had a previous bankruptcy case dismissed for failure to comply with court orders, you may be disqualified. Consulting with a bankruptcy attorney can clarify your eligibility.