Upon encountering the trials of substantial financial strain, many families in Georgia and elsewhere may be left in search of answers on their available options for relief. While there may be various outlets for debt relief, in some cases, bankruptcy might be just the tool to help protect a person’s financial future. However, some individuals might have concerns about how a previous filing might affect their eligibility to seek relief through bankruptcy.
There are a variety of factors that might influence one’s eligibility to seek relief by filing for bankruptcy. In addition to topics such as the means test, factors such as previous bankruptcy filing records could also play a part. For instance, individuals who previously filed for bankruptcy might not be eligible to file again for up to six to eight years, depending on the chapter of bankruptcy involved.
Alternatively, those who attempted to file for bankruptcy but were not able to complete the process may only need to wait 180 days before initiating the bankruptcy process. This period remains the same for both Chapter 7 and Chapter 13 bankruptcies. In addition, a person may also be required to take part in some form of credit counseling within six months of filing for bankruptcy.
It is no secret that filing for bankruptcy can be a complex process. Individuals who have questions about their eligibility to seek relief through similar means could benefit from speaking with an experienced attorney for advice on all their options. An attorney can address each of a client’s questions, help determine each of his or her available options and assist in pursuing the necessary relief through the proper channels.