|
Bankruptcy Discharge Filing limits
Chapter 7 13 |
 |
When you file a Chapter 7 or Chapter 13 a temporary court order called a stay
goes into effect. Normally the goal is to get the permanent court order
called a discharge at the end of the case. You can only obtain one
discharge every few years these are the time periods. If you only need to stop a
foreclosure and catch up the payments you may not need a discharge but if you
need to strip a second mortgage you have to get the discharge in Kentucky.
Only individuals can file a Chapter 13 but corporations and business
entities can file a Chapter 7 or 11. There is a dollar limit of about
360,000 of unsecured debt and 1,250,000 in secured debt in a Chapter 13 but no
dollar limit for a Chapter 7.
Remember if you file a Chapter 13 and then need to convert the
Chapter 13 to a Chapter 7 and you didn't qualify yet for a Chapter 7 when the
Chapter 13 was filed you cant just convert. You have to dismiss and file a
new case as a Chapter 7. This is because the time runs from date filed to
date filed.
These are the amount of time you have to wait from one
discharge until you can get the next.
|
Type of Original Discharge |
Next Case is a: |
Waiting period |
Statute |
|
Chapter 7 discharge |
Next Chapter 7 |
8 years |
11 usc 727 (8) |
|
Chapter 7 discharge |
Next Chapter 13 |
4 years |
11 usc 1328 f |
|
Chapter 13 paid over 70% |
Next Chapter 7 |
no waiting |
|
|
Chapter 13 paid less than 70% |
Next Chapter 7 |
6 years |
11 usc 727 (9) |
|
Chapter 13 discharge |
Next Chapter 13 |
2 years |
11 usc 1328 f
|
To file Bankruptcy: 1
Download our manual 2
Download the list of required documents
3 fill
out our online filing bankruptcy intake 4
Take your class 5
make your appointment
|
|
|
|
|