File Bankruptcy again

Letter to “Ask Leon”

Hello. I filed for bankruptcy in July 1999 and have recently been separated in process of divorce from my husband and need to file again. I am HUGE amounts of debt and can’t afford to do anything about it. My back is being nailed against a wall because of this. I simply don’t know any other option. I want to file Chapter 7. When can I file and how is this going to affect me. Really I can’t be hurt anymore, but still would like to know if I will ever be able to have my credit the way it use to be. Thanks for any help/information!

Leon Says…

You can’t have another Chapter 7 discharge unless your new case is filed more than 8 years after the date your old case was filed. Your future credit opportunities will probably depend on your future financial circumstances, which is unknown.

You should look into Chapter 13 if you need debt relief right now. A 13 may allow you to satisfy the debts based on what you can actually afford.