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Colorado Bankruptcy Lawyers - "How many times can I file bankruptcy?"
Debtors may file Chapter 7 only once during any 6 year period. If a Chapter 7 discharge
was granted within the 6 years preceding the filing of a petition for relief under Chapter 7, the case must be
dismissed. Notice the period of calculation: the end of the last case, to the beginning of the new case. Bankruptcy
lawyers often object to the period of calculation, despite clear federal mandate.
Colorado Bankruptcy Lawyers In Practice
If a previous case was filed under chapter 11 or Chapter 13 during the preceding 6 years, the debtor and their
bankruptcy lawyer will not be allowed to proceed toward discharge in the subsequent case unless: 1) all the "allowed
unsecured" claims in the earlier case were paid in full; or 2) payments under the plan in the earlier case totaled
at least 70 percent of the allowed unsecured claims and the debtor's plan was proposed in good faith and the payments
represented the debtor's best effort. In practice, few debtors file multiple cases. The experience of filing bankruptcy
is usually a once in a lifetime event. Most debtors benefit and learn from the experience, then take decisive steps
to insure against future filings.
For maximum benefit, most debtors interview several bankruptcy lawyers before committing to any course of
action. Interviewing bankruptcy lawyers requires a degree of expertise. Federal laws, state laws, and
local rules combine to form the practice standard used by Colorado bankruptcy lawyers and courts. These laws evolve
continually
with new statutory amendments and case decisions. The most successful debtors compare the opinions of several
bankruptcy lawyers, and with targeted questions, discover the most beneficial path to pursue.
Back to Colorado Bankruptcy Lawyers FAQ questions and bankruptcy lawyer information.
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