How Many Times Can Someone File Chapter 7 Bankruptcy?

How many times can someone file chapter 7 Bankruptcy?

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Min Austria
Assistant at Ascent Law LLC

Bankruptcy is a scary word, but it doesn't have to be. Here's what you need to know about Chapter 7 bankruptcy, and how many times someone can file for it:

Chapter 7 bankruptcy is a type of liquidation where the person who files gets rid of most of their debts. That means that they are able to stop paying the majority of their debts, and instead have their creditors hand over some of the money they had owed to them.

In most cases, there's only one chance to file Chapter 7 bankruptcy; the law says that you can't file again unless you've gone at least eight years without filing. If you have enough assets (like property or savings) that could be sold off to pay your debts, your case will likely end up in Chapter 13 bankruptcy instead. If you're interested in filing for bankruptcy, talk with a lawyer as soon as possible so that you can figure out which route is best for you.

If you have any questions or need a Chapter 7 Bankruptcy Lawyer, please call this law firm for a free consultation.

Ascent Law LLC

8833 S Redwood Road Suite C

West Jordan UT 84088

(801) 676-5506

Utah Lawyer for Divorce Business Bankruptcy Probate Estates
Ascent Law helps you in divorce, bankruptcy, probate, business or criminal cases in Utah, call 801-676-5506 for a free consultation today. We want to help you.
https://www.ascentlawfirm.com

Location: Springville, UT, USA

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