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Also, legally speaking, once debt is discharged or a financial repayment plan is approved by a judge, it will be another 5 to 8 years before one can file again. Chapter 7 versus Chapter 13
To get debts discharged through Chapter 13, you must wait four years after filing a Chapter 7 bankruptcy. You can file for Chapter 13 before four years if no debts were discharged in the Chapter 7 ...
Filings declined significantly during the COVID-19 pandemic but have begun to rise again as of 2022. Because filing bankruptcy has long-term financial consequences, you should understand how ...
Key takeaways. There are two common types of bankruptcy: Chapter 7 and Chapter 13. Filing for bankruptcy is a time-consuming process that can take years to stop affecting your finances.
Bankruptcy should be used as a last resort, and some alternatives, like credit counseling, may be necessary before you can file. You may also want to look into professional debt relief options ...
But filing for bankruptcy can be a long, expensive process, so it should be one of the last things to consider if you have debt. For one, it does cost money to file.
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