How often can I receive a bankruptcy discharge?

In Mississippi, you can typically receive a bankruptcy discharge every eight years. However, some cases allow for a bankruptcy discharge to be granted in as little as four years. The type of bankruptcy you file and its relation to prior filings affects the amount of time you have to wait before being able to receive a bankruptcy discharge. A bankruptcy discharge is a legal order by the court that releases the debtor from having to pay certain debts. Once a discharge is issued, the debtor (or person filing for bankruptcy) no longer has to pay the associated debts. The discharge applies to any debt that existed at the time of the bankruptcy filing. This includes unsecured debt such as credit card balances, medical bills, and most types of installment loans. If you file for a Chapter 7 bankruptcy, you are typically eligible for a discharge after eight years. For Chapter 13 bankruptcies, the court requires you to wait four years until you can be eligible for a discharge. The court considers other factors when deciding whether to grant a discharge so it is important to consult with an experienced bankruptcy attorney in Mississippi before filing. In some cases, a filing for Chapter 13 bankruptcy can allow you to be eligible sooner than with Chapter 7 bankruptcy. Additionally, you may be able to receive a discharge earlier if you have paid at least seventy percent of your unsecured debts prior to filing. If you are considering filing for bankruptcy in Mississippi, it is important to understand how often you can obtain a bankruptcy discharge. Knowing this information can help you better prepare your bankruptcy filing and be sure that you are making the best decision for your financial situation.

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How often can I receive a bankruptcy discharge?

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