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| Chapter 7 Bankruptcy Success - How often can you file a Chapter 7 Bankruptcy? | |||
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Chapter 7 Success Lawyers Chicago - How often can you file a Chapter 7 Bankruptcy? How often can you file a Chapter 7 Bankruptcy?How often can somebody file a Chapter 7 bankruptcy relief and get a fresh start? Well, under the old law it was six years and a day. They’ve changed that just a little bit and now they’ve added a couple years, so now it’s eight years and a day. The primary purpose doing that is to prevent bankruptcy fraud. Prevent somebody from racking up a whole bunch of bills and just kind of hanging on for that period of time and just doing it all over again, again and again. Was there really a lot of fraud happening or is this much a do about nothing? Well, I don’t believe that there was much in the way of fraud. They’re just trying to tighten things up to make it more difficult so that creditors that can be paid under certain situations. And that seems to me primarily to be what the new bankruptcy law is about. It’s about getting creditors paid. But, this is almost eight years in the making. This has passed the house, it’s passed the senate. It made it all the way to former president Clinton’s desk and he vetoed it. They’ve continued to try it.
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| This website contains legal information, and not legal advice. It's content refers only to the law of the United States. | ||
| Law Offices of David M. Siegel Chicago, IL |
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| We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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