Common causes of bankruptcy include divorce, job loss and medical expenses. When these unfortunate circumstances arise more than once, some individuals may need to file for a second or subsequent bankruptcy.
Kentucky residents should review these considerations when thinking about filing for bankruptcy after a previous filing.
Time limits after discharge
You cannot receive a Chapter 7 bankruptcy discharge fewer than eight years after a previous Chapter 11 filing. However, you can file a Chapter 13 case just two years after receiving another Chapter 13 discharge.
To file a Chapter 7 bankruptcy after a Chapter 13, the waiting period is six years. You can file a Chapter 13 bankruptcy four or more years after a Chapter 7 filing.
Time limits after denial or dismissal
Different time limits apply if you did not receive a discharge in the first bankruptcy filing. If the court denied your initial filing, you can try to file again but must correct the issues that led to the original denial.
If the court dismissed your first case, you can usually file again after a 180-day waiting period. In some cases, the court may prohibit you from filing a future case depending on the reasons for dismissal.
When you file a second or subsequent bankruptcy, the court will also make sure that you are not using the system to inappropriately evade creditors or shield yourself from a lawsuit. A thorough understanding of the Kentucky bankrupcy laws can help you determine the appropriate court of action when you find yourself struggling with unpayable debt after a bankruptcy discharge.