Michigan Bankruptcy Lawyers - How many times can I file bankruptcy?:
Debtors may file Chapter 7 only once during any 6 year period. If a Chapter 7 discharge was granted within the 6 years preceding the filing of a petition for relief under Chapter 7, the case must be dismissed. Notice the period of calculation: the end of the last case, to the beginning of the new case. Many bankruptcy lawyers disagree on this period, although the Code is quite clear.
Michigan Bankruptcy Lawyers - In Practice:
If a previous case was filed under chapter 11 or Chapter 13 during the preceding 6 years, the debtor and their bankruptcy lawyer will not be allowed to receive a discharge of debts in the subsequent case unless: 1) all the allowed unsecured claims in the earlier case were paid in full; or 2) payments under the plan in the earlier case totaled at least 70 percent of the allowed unsecured claims and the debtor's plan was proposed in good faith and the payments represented the debtor's best effort. In practice, few debtors and bankruptcy lawyers file multiple cases. The experience of filing is usually a once in a lifetime event. Most debtors benefit and learn from the experience, then take decisive steps to insure against future filings.
Bankruptcy lawyers must carefully review each debtor's financial affairs before suggesting any particular remedy. Because each client is unique, all alternatives may not be available. Also, bankruptcy lawyers often offer different opinions regarding available alternatives in the same circumstance, based on each bankruptcy lawyer's personal level of legal expertise. All potential debtors should consider the opinions of at least two, and preferably three consumer bankruptcy lawyers to discover all available alternatives.
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