How Soon Can You File Chapter 13 After Chapter 7 Bankruptcy? – Bankrate
- August 21, 2021
- By: Greenpath Financial Wellness
Exploring your options when it comes to bankruptcy? Bankrate asked GreenPath to weigh in on what you need to know about timing.
Bankrate highlights in their article that once you’ve opted for bankruptcy to wiping out debts, there are limits surrounding when you can file again. If you’ve used Chapter 7 bankruptcy specifically to discharge debts in the past, you must wait eight years before filing another Chapter 7 case.
“Under a Chapter 7 bankruptcy, generally there is no option present to help catch up past due payments on secured debts such as mortgages or vehicle loans,” says Jeffrey Arevalo, financial expert at Greenpath Financial Wellness.
Takeaway: It pays to look at timing and strategy when navigating bankruptcy.
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Jeff Arevalo is a Financial Wellness Expert and has been with the Greenpath since 2006. He possesses a strong passion for helping others and takes great pride in providing strong financial education and effective money management tools to help make a difference in people’s lives. Jeff and his wife recently welcomed a baby boy to their family and are excited to navigate the world of parenthood for the first time.