How Often Can I File Bankruptcy in Oklahoma?

Understanding the Frequency of Filing Bankruptcy

Good afternoon, everybody. Edward Kelly here, your Oklahoma City bankruptcy attorney, and another three minutes to financial freedom. Today we’re going to talk about how often can I file bankruptcy. So I’ve been around long enough. I’ve got some repeat clients, some due to bad habits, and many due to, you know, just another round of unfortunate circumstances, and it can happen either way.

So how often can you do it? Well, Chapter 7, I’m always saying, is the one you want to do if you can. That’s gone and assets hopefully protected and filed and done in 90 days. You can do that once every eight years, assuming you get a discharge. Now, if you don’t get a discharge, then you don’t start the clock. So, you know, you can file again sooner if you’re not successful in the bankruptcy. But if you get a discharge, you’re going to have to wait eight years from the date of filing of your first Chapter 7 until you can file the second or third and so on. So that’s the basic rule for that.

However, you can still file a Chapter 13 after a Chapter 7. The key, though, is the Chapter 13, if it’s filed less than four years after the Chapter 7, you will not receive a discharge. So it will just basically be a stopgap measure. And there might be reasons for that. Maybe the only reason you’re doing it is to catch up a mortgage that you’re in default on. So you’re not even looking for a discharge. You just need to force the bank to let you catch up, meaning you’re going to pay your regular payment plus a portion of it. And at the end of it, although you don’t get a discharge, your mortgage is back in good shape. So that might be a reason. However, otherwise, if you want to discharge any of your debt after the 13, you’re going to need to file at least four years from the date of filing of the Chapter 7.

Chapter 13 Bankruptcy and Filing Frequency

In a Chapter 13, depending on what kind of Chapter 13 you do, there’s much looser rules about that, particularly if you’re doing a 13 where you’re paying your creditors 100%. But for most of you, what you’re wanting to know is how often can I do a Chapter 7. And the answer to that is eight years, once every eight years from the date of filing, if you got a discharge.

Ready to Take Control of Your Financial Future

If you’re facing financial hardship and need assistance with bankruptcy, I offer a free consultation to discuss your options. Don’t hesitate to reach out and take the first step towards achieving financial freedom. Contact me, an Oklahoma bankruptcy lawyer, at (405) 563-7888 or at oklahomacitybankruptcyattorney.pro to schedule your consultation now.