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A friend of mine did a chapter 13 bankruptcy five years ago and wants to know if they can do a chapter 7 now?

Asked almost 3 years ago - Columbus, OH
Bankruptcy Chapter 13 Bankruptcy Chapter 7 Bankruptcy

My friend and his wife filed five years ago for a chapter 13 bankruptcy and wanted to know if they could do a chapter 7 bankruptcy.I told him that I thought there was a reqiured amount of time between bankruptcies.

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Answered almost 3 years ago. Bankruptcy Attorney in Woodbury, NY.
There is a required waiting period under the new bankruptcy laws.

The waiting period when you want to do a Chapter 7 case after a prior Chapter 13 case is SIX years from the date the prior Chapter 13 case was filed.

Thus, your friend may have to wait another year.

For more info about time frames for repeat bankruptcy filings, please click on the following links:
Bankruptcy blog post about repeat filings
Bankruptcy Website article about repeat filings
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