Time Restrictions for Joint Bankruptcy

Regardless of your specific situation, facing financial difficulty is never easy. If you have recently lost your job, gone through a divorce, or had to pay an unexpected expense, you may reach a point where you can no longer pay your mortgage or credit card bills and may want to consider filing for bankruptcy. When married couples face financial woes, they have two bankruptcy options – separate or joint.

Joint bankruptcy is when both spouses file for bankruptcy on one petition. There are some restrictions for couples who wish to file for joint bankruptcy. If one of the spouses has filed for bankruptcy in the past and hasn’t waited the required amount of years before filing again, the couple cannot file for joint bankruptcy. If you have any questions, be sure to consult a qualified bankruptcy attorney.

Time Restraints

Filing for joint bankruptcy is a major decision and you should discuss it thoroughly with a qualified attorney. Bankruptcy law has some restrictions on how long you have to wait before you can file for bankruptcy a second time. The time restrictions include:

• If you have filed for Chapter 7 bankruptcy, you have to wait eight years before you can file for Chapter 7 again
• If you have filed for Chapter 13 bankruptcy, you must wait two years before filing for Chapter 13 again and four years to file for Chapter 7

To make sure you and your spouse qualify for joint bankruptcy, be sure to contact a qualified attorney today.

Contact Us

At the Harmon Law Office, LLC, our Arizona bankruptcy lawyers will discuss your legal options with you. Contact us today at 480-829-0494.