Legal Question in Bankruptcy in Illinois

When can you file chapter 7 bankruptcy? Discharge date or filing date 8 years later

Asked on 4/13/21, 2:14 pm

2 Answers from Attorneys

Terrance Leeders Leeders Law

You are eligible to file chapter 7 8 years from the date you filed the previous chapter 7. So, filing date to filing date. If you are in the Chicago area, reach out to me for a free consult - 312-346-7400 -Terry Leeders Thanks

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Answered on 4/13/21, 2:50 pm
Henry Repay Law Offices of Henry Repay

The eligibility is counted from the date of filing. In addition, you might consider that an attorney will need time to meet with you, gather documentation and prepare the case. So, if you are in financial distress, you might prepare for a filing weeks or even a few months before you become eligible. In some cases, there is the alternative of a Chapter 13 filing, which can be used if you do not meet the eight-year eligibility and may even be the advised course in certain circumstances.

The scope of this space does not afford an opportunity to assess the situation and advise you. I recommend you assemble for legal consultation: (1) household income information for October 2020 through the present, including wages and unemployment during that period; (2) all your bills and collection notices (copies neatly assembled, back pages included); (3) last two years’ tax returns; (4) a credit report (use to obtain free report if not requested in last year); and (5) other information that may apply, such as copies of lawsuits. Call at your earliest convenience to afford the most opportunity in which to be advised about your best course.

I do not recommend filing bankruptcy on your own. There are too many complex issues. I have seen several posts on this site for debtors who filed on their own and are seeking counsel concerning complications. Most of them will have a hard time finding an attorney to get involved to unwind the mess without the attorney charging several times what would originally have been paid.

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Answered on 4/13/21, 3:54 pm

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