How often can I receive a bankruptcy discharge?

In Colorado, you can typically receive a bankruptcy discharge once every eight years. This includes all types of bankruptcies, such as Chapter 7, Chapter 11, and Chapter 13. The eight-year period is counted from the date of the discharge of the prior bankruptcy. If you obtain a discharge from a prior bankruptcy and then subsequently file again within the eight year period, you may be entitled to a “hardship discharge.” A hardship discharge is only granted under limited circumstances and requires that you prove the second bankruptcy was caused by an external factor such as a job loss, medical emergency or other financial hardship. If you are filing for Chapter 13 bankruptcy, the eight year period does not start until you have completed the repayment plan of your prior bankruptcy. This is because the goal of Chapter 13 is to repay your creditors and the court wants to ensure that you complete the repayment plan before you are granted a new discharge. When considering a bankruptcy filing, it is important to keep in mind the eight year waiting period between discharge dates. Doing so will enable you to make an informed decision about the consequences of filing and how it will affect your financial stability in the long run.

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How often can I receive a bankruptcy discharge?

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