How Much Time Must Pass Before Re-Filing a Chapter 7?

How Much Time Must Pass Before Re-Filing a Chapter 7? "Re-filing a Missouri or Illinois Chapter 7 is a situation I hope few people find themselves in, but it is possible after a certain period of time if it becomes necessary. There are, however, a few tips for making your second bankruptcy experience even better.I pray none of my clients ever have to refile a Chapter 7 bankruptcy in Missouri or Illinois. When a family files for bankruptcy for the first time, I try to give them all the tools they need to rebuild their lives and not fall back into debt; I know that most people hope to never be in a position where they need protection from foreclosure, credit card debt assistance, and relief from harassing creditors again.However, adversity affects everyone. In this economy, I see an increasing number of people who have fallen back into debt after suffering an unemployment or medical emergency. These situations sometimes necessitate the refiling of a Missouri or Illinois Chapter 7 petition. So, how soon can these individuals file for bankruptcy? Eight years after your previous Chapter 7 bankruptcy filing, you may consider filing again. Keep in mind that bankruptcy has evolved in recent years.In 2005, new laws were enacted requiring anyone filing for Chapter 7 bankruptcy in Missouri or Illinois to pass a ""means test."" The other regulations governing Chapter 7 have remained unchanged. You must continue to make payments on property you desire to keep, but unsecured debts, such as medical and credit card debt, can be eliminated. Re-filing for Chapter 7 bankruptcy can be an even better experience the second time around if it is in your best interest to do so. After filing for the first time, you are familiar with the rules, regulations, and process. There are not many remaining surprises.
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