{"id":5122,"date":"2023-10-24T12:25:03","date_gmt":"2023-10-24T12:25:03","guid":{"rendered":"https:\/\/www.therollinsfirm.com\/?page_id=5122"},"modified":"2023-11-07T12:29:18","modified_gmt":"2023-11-07T12:29:18","slug":"how-often-can-i-file-bankruptcy","status":"publish","type":"page","link":"https:\/\/www.therollinsfirm.com\/how-often-can-i-file-bankruptcy\/","title":{"rendered":"How Often Can I File Bankruptcy in Ridgeland and Gulfport, MS?"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1185.6px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\"><h2><b>Filing for Bankruptcy is Not a One-Time Thing<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">When dealing with financial difficulties, many ask, &#8220;How often can I file bankruptcy?&#8221; It is a critical question for those searching for financial relief and a new beginning. Grasping the complexities of bankruptcy and its legal aspects is vital for making well-informed choices. In this article, we aim to simplify how often you can file for bankruptcy in simpler terms while highlighting the indispensable role of our experienced attorney at The Rollins Law Firm, located in Ridgeland and Gulfport, MS.<\/span><\/p>\n<h3><b>Short Summary:<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">To help you understand this article more, we have compiled an overview that will answer most of your questions about bankruptcy:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Filing for bankruptcy isn&#8217;t a one-time deal; its frequency depends on the rules.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Each bankruptcy chapter has its filing regulations, shaping available options.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">For Chapter 7, discharge occurs once every eight years, crucial for a fresh financial start.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Chapter 13 allows a shorter waiting period, usually two years, or six with specific conditions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reasons to file include overwhelming debt, creditor harassment, foreclosure, medical expenses, job loss, and legal protections.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Navigating bankruptcy involves assessment, counseling, attorney hire, data gathering, filing, meeting attendance, claims resolution, course completion, and post-bankruptcy management.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Rollins Law Firm offers personalized guidance in Chapter 7 and 13 bankruptcy, stopping repossession, loan modification, social security services, and more.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">At The Rollins Law Firm, we are committed to offering individualized advice and enabling people to make informed choices about their financial future. <\/span><\/p>\n<h2><b>What is Bankruptcy?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Bankruptcy is a legal process that enables individuals or businesses to alleviate overwhelming debt burdens through asset liquidation <\/span><a href=\"https:\/\/www.therollinsfirm.com\/chapter-7-bankruptcy\/\"><span style=\"font-weight: 400;\">(Chapter 7)<\/span><\/a><span style=\"font-weight: 400;\"> or creating a manageable repayment plan <\/span><a href=\"https:\/\/www.therollinsfirm.com\/chapter-13-bankruptcy\/\"><span style=\"font-weight: 400;\">(Chapter 13)<\/span><\/a><span style=\"font-weight: 400;\">. This process offers respite from creditor harassment, halts foreclosures or repossessions, and has the potential to discharge specific debts. Although it affects credit, bankruptcy also provides an opportunity for a new beginning and financial recovery.<\/span><\/p>\n<h2><b>How Often Can I File Bankruptcy in Mississippi?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Bankruptcy is not a one-size-fits-all solution; its frequency is subject to specific rules and regulations. How often you can file for bankruptcy depends on the type and discharge of your previous bankruptcy. Each bankruptcy chapter has its distinct regulations on the frequency with which you can file them:<\/span><\/p>\n<h3><b>How Often Can I File Chapter 7 Bankruptcy?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">For individuals considering Chapter 7 or liquidation bankruptcy, the time gap between filings is of utmost importance. One cannot obtain a Chapter 7 discharge more frequently <\/span><b>than once every eight years<\/b><span style=\"font-weight: 400;\">. This duration is computed from the previous Chapter 7 case filing date to the filing date of the new one. Knowing the waiting period is necessary for those aiming for a renewed financial beginning through Chapter 7.<\/span><\/p>\n<h3><b>How Often Can I File Chapter 13 Bankruptcy?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">When considering Chapter 13 bankruptcy, the interval between filings differs. Individuals can file for Chapter 13 sooner than Chapter 7, but specific restrictions apply. Usually, the waiting period between Chapter 13 discharges is <\/span><b>two years<\/b><span style=\"font-weight: 400;\">. However, <\/span><b>this duration can be shortened to six years<\/b><span style=\"font-weight: 400;\"> if the debtor settled at least 70% of their unsecured claims in the previous case.<\/span><\/p>\n<h2><b>Why Do I Need to File For Bankruptcy?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Filing for bankruptcy is a significant decision, often driven by financial hardships that may seem difficult. Here are several compelling reasons why individuals choose to file for bankruptcy:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Overwhelming Debt<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If you are drowning in unmanageable debt, bankruptcy provides a structured and legal solution.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Creditor Harassment<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Bankruptcy stops persistent creditor calls, letters, and threats, offering immediate relief.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Foreclosure or Repossession<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Bankruptcy can halt home foreclosure or vehicle repossession. <\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Medical Expenses<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Overwhelming medical bills can lead to instability; bankruptcy offers a fresh start.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Job Loss or Reduced Income<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In times of job loss or income reduction, bankruptcy provides a lifeline to regroup.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Legal Protections<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Beyond debt relief, bankruptcy safeguards assets, prevents utility disconnections, and shields from legal actions.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Rebuilding Credit<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Despite credit impact, bankruptcy allows a fresh start with responsible financial management.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Unmanageable Interest and Fees<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Bankruptcy addresses high interest and fees, making debts more manageable.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Business Debt<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Entrepreneurs facing business debts find in bankruptcy a chance to reset and protect personal assets.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Legal Resolution<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">As a legal process, bankruptcy resolves financial challenges, providing a clear framework for recovery.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is vital to recognize that the decision to file for bankruptcy is personal and requires careful consideration of your unique financial situation.<\/span><\/p>\n<h2><b>How Can I File for Bankruptcy?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Navigating through the bankruptcy filing process involves various stages, and understanding each step is critical for a successful resolution. Below is a simplified overview of the typical filing process:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Assessment and Decision<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Evaluate your financial situation to determine if bankruptcy is the right option.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Credit Counseling<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Before filing, undergo credit counseling from an approved agency. That helps assess your finances, explore alternatives, and establish a budget.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Hiring a Bankruptcy Attorney<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Work with our experienced attorney at The Rollins Law Firm to guide you, ensure legal requirements are met, and represent your interests.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Gathering Financial Information<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Compile detailed financial data, including income, expenses, assets, and debts, to complete required court forms and schedules.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Filing the Petition<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Our attorney assists in preparing and filing the bankruptcy petition, officially initiating the process. The court assigns a case number and issues <\/span><a href=\"https:\/\/www.therollinsfirm.com\/automatic-stay-bankruptcy\/\"><span style=\"font-weight: 400;\">an automatic stay<\/span><\/a><span style=\"font-weight: 400;\">, pausing collection activities.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Meeting of Creditors (341 Meeting)<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Attend the meeting 20 to 40 days after filing, where the bankruptcy trustee and creditors may inquire about your financial affairs. Our attorney guides you through this phase.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Creditors&#8217; Claims and Objections<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Creditors can file claims or objections within a specified period. Our attorney addresses challenges to ensure a fair resolution.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Completion of Financial Management Course<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">After the 341 meeting, complete a financial management course from an approved provider, focusing on budgeting and financial planning.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Chapter 7 Discharge or Chapter 13 Repayment Plan<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In Chapter 7, eligible debts are discharged, offering a fresh start. Chapter 13 involves following a court-approved repayment plan over a specified period.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Post-Bankruptcy Financial Management<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Adopt responsible financial practices to rebuild credit and maintain stability. Budgeting, saving, and wise credit use are crucial components.<\/span><\/p>\n<h2><b>Call Our Bankruptcy Lawyers Today!<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Understanding the nuances of Chapter 7 and Chapter 13 bankruptcy is essential for those seeking relief in Ridgeland and Gulfport, MS. However, attempting to navigate this alone is not advisable. Our experienced attorneys at The Rollins Law Firm stand ready to guide you through the process, ensuring that your journey toward financial recovery is as smooth and informed as possible.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When facing the question, &#8220;How often can I file bankruptcy?&#8221;, having the right legal team in your corner makes all the difference. <\/span><a href=\"https:\/\/www.therollinsfirm.com\/contact-us\/\"><span style=\"font-weight: 400;\">Give our attorneys a call today<\/span><\/a><span style=\"font-weight: 400;\"> and get a free consultation! Aside from Chapters 7 and 13 bankruptcies, we also offer services for <\/span><a href=\"https:\/\/www.therollinsfirm.com\/repossession\/\"><span style=\"font-weight: 400;\">stopping repossession<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.therollinsfirm.com\/loan-modification\/\"><span style=\"font-weight: 400;\">loan modification<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.therollinsfirm.com\/social-security\/\"><span style=\"font-weight: 400;\">Social Security<\/span><\/a><span style=\"font-weight: 400;\">, and <\/span><a href=\"https:\/\/www.therollinsfirm.com\/practice-areas\/\"><span style=\"font-weight: 400;\">more<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/www.therollinsfirm.com\/wp-json\/wp\/v2\/pages\/5122"}],"collection":[{"href":"https:\/\/www.therollinsfirm.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.therollinsfirm.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.therollinsfirm.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.therollinsfirm.com\/wp-json\/wp\/v2\/comments?post=5122"}],"version-history":[{"count":2,"href":"https:\/\/www.therollinsfirm.com\/wp-json\/wp\/v2\/pages\/5122\/revisions"}],"predecessor-version":[{"id":5124,"href":"https:\/\/www.therollinsfirm.com\/wp-json\/wp\/v2\/pages\/5122\/revisions\/5124"}],"wp:attachment":[{"href":"https:\/\/www.therollinsfirm.com\/wp-json\/wp\/v2\/media?parent=5122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}