If Your Bankruptcy was Denied - Louisville Business Bankruptcy

The ability to file for bankruptcy is dependent on the chosen type of bankruptcy. You can file a Chapter 7 once every eight years, starting from the filing date, not discharge. You can file for Chapter 13 after successfully completing a Chapter 7 case. However, if you file within four years of the Chapter 7 filing, you will not receive a discharge at the end of the case. If the previous Chapter 13 case resulted in creditors receiving less than 70 percent of their claims, you have to wait six years before filing for Chapter 7. Upon completion of a Chapter 13 case, you can file for another Chapter 13 bankruptcy at any time, except if the previous case lasted less than two years. In that situation, you must wait until the two-year mark is reached before filing again.

If your bankruptcy was denied:

Carefully read through the denial notice to understand the specific reasons for the denial. This information will help you determine your next course of action.

Consult with an attorney who can review your case and provide guidance on the best way forward. They may be able to identify any errors or issues that can be addressed to increase your chances of a successful bankruptcy filing.

If you believe there were errors or misunderstandings leading to the denial, you can dispute it. This usually involves filing an appeal with the bankruptcy court within a specific time frame. An attorney can assist you with this process.

You can also explore alternative debt relief options such as debt consolidation, settlement negotiations with creditors, or working out a repayment plan. An attorney or a reputable credit counseling agency can help you understand and evaluate these alternatives.

Take steps to improve your financial situation by managing your debts, cutting unnecessary expenses, and increasing your income. This will help you regain control of your finances and potentially put you in a better position for future bankruptcy filings, if necessary.

Remember, bankruptcy denial is not the end of the road, and there are often alternative paths to finding relief from overwhelming debt. Engaging with a qualified attorney or debt counselor can help you navigate through the process and find the best solution for your situation.