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Could Medicaid Payback Rules Come to an End?

Amid recent reports from such prominent news outlets as The New York Times and Associated Press about the negative impact of Medicaid estate recovery on families, the idea of ending this practice altogether has resurfaced.

What Is Medicaid?

Medicaid is a public assistance program that seeks to provide health insurance coverage for Americans with limited means. To be eligible for Medicaid in most states, you must meet strict income and asset guidelines. Generally, Medicaid rules will require that you have no more than $2,000 to your name.

Many older Americans who eventually need long-term care services come to rely on Medicaid to cover these costs. (Note that Medicare, a different government program, does not pay for long-term care.)

As of late 2023, the median monthly cost of a semi-private room in a nursing home in the U.S. was close to $9,000. The vast majority of people cannot afford to pay these prices out of pocket over the long term. So, they often opt to spend down what assets they do have until they can qualify for the Medicaid program.

What Is Medicaid Estate Recovery?

Federal law requires that states attempt to recover the funds they had paid out for a Medicaid recipient’s medical care during their lifetime. This might include any costs that have accrued for nursing facility services, prescription drugs, or other medical or long-term care. The Medicaid Estate Recovery Program specifically affects Medicaid long-term care recipients who had reached age 55 or older.

With certain exceptions, it’s mandatory for a state to seek these repayments from the person’s estate after they have passed away. States that fail to pursue this course of action may be at risk of losing the Medicaid funding they receive from the federal government.

Can Medicaid Take Your Home?

In most states, only property that is part of your probate estate is subject to Medicaid estate recovery. So, for instance, if you have named someone to benefit from your life insurance policy, those funds will pass outside probate in most places. However, your house may be your sole asset, and you may not have taken precautions to protect it from estate recovery. In this case, the state Medicaid agency could place a lien on it to recover its costs.

The financial consequences of the Medicaid Estate Recovery Program can be devastating for grieving families. As states seek to recover money they have spent on Medicaid beneficiaries who received long-term care benefits, families with lower incomes tend to be the ones in the crosshairs. In some cases, the survivors of the deceased may lose their family home or face bankruptcy.

The Stop Unfair Medicaid Recoveries Act

In March 2024, U.S. Rep. Jan Schakowsky (D-IL) reintroduced legislation, the Stop Unfair Medicaid Recoveries Act, proposing to end Medicaid estate recovery altogether. The bill would prevent states from placing liens on the homes of Medicaid recipients while helping to improve access to long-term care services.

According to the recent story in the Times, one nonpartisan agency cited that, for fiscal year 2019, most states recouped less than 1 percent of what they had spent on Medicaid long-term care benefits.

“This current system ... is ineffective and unjust, and it must end,” Schakowsky said in a news release about the Act. “Let’s give our seniors and their families dignity and peace of mind.”

Numerous advocacy groups had previously expressed their support for ending Medicaid estate recovery. However, the bill may not be particularly likely to move forward immediately.

Plan for the Unforeseen With Your Elder Law Attorney

Avoiding Medicaid estate recovery is possible, but it does take careful and deliberate planning.

Facing the possibility that you could one day need Medicaid long-term care coverage is important. After all, statistics show that seven in 10 older Americans are likely to require some form of long-term care in their later years.

Keep in mind that the rules regarding Medicaid benefits, which are specific to your state, can be complex. Be sure to work with your elder law attorney, who can help you navigate your potential options. They can assist you in planning for your future and guide you in making the best possible decisions. This might include strategizing about when and how to apply for Medicaid or looking for ways to protect your assets.

Is Bankruptcy Considered Financial Hardship?

There is no doubt that bankruptcy can be difficult for people. No one wants to declare being bankrupt unless and until they have no way out of the debts. So, if you are asking whether or not bankruptcy is considered as a financial hardship, then the answer is - definitely, YES! A bankruptcy can cause a very lasting impact on the creditworthiness and life as well, to ensure that you are rectifying the situation and getting back to normal, you have to restructure your debts and cut back on the costs. To do that you will need the best bankruptcy attorneys by your side.

We, at Fong Law Group, can ensure that you are getting the best legal help to go through the bankruptcy procedure and all the legal proceedings and meetings efficiently. We offer the best legal services related to bankruptcy in Monterey Park, California and in the surrounding areas.

What is financial hardship?

Financial hardship means when you find it difficult to repay your debts and loans. When you are in extreme financial hardship that you couldn't pay off your bills and debts or the loans, you apply for bankruptcy. Financial hardships can be considered when you are:

• Unable to pay of your bills
• Unable to repay the debts that you have
• Unable to pay off your loans to the creditors

Hence, a bankruptcy is considered a financial hardship. Declaring bankruptcy is considered as the last resort to get out of the financial hardships that you are facing. Many are relieved when they finally take the leap, and decide to file bankruptcy. It means the creditors stop calling, you can finally answer your phone again. It means a new start, and less stress worrying how you will be able to pay all your bills. But the main question is when can you file the bankruptcy?

 

When to declare bankruptcy?

Now that you know what financial hardship is, it is time for you to know when you can declare bankruptcy to start afresh. There are times when you can hit the rock bottom. Your liabilities i.e. the debts and loans can exceed your assets or income. This can be the worst thing and you need to get out of this situation immediately. The best way to get out of this situation is by filing bankruptcy.There can be different reasons to file bankruptcy. If your creditors are filing lawsuit against you or you are not able to pay off the debts properly, consulting with a bankruptcy lawyer is the best way to get out of this. Understanding bankruptcy and when to file it or how to file it can be quite difficult at times.

Moreover bankruptcy and financial hardship has a direct connection that an experienced lawyer can help you to know in a better way. So, look for the best lawyers or attorney in your area. Fong Law Group is here to help you in such situations when you are confused about bankruptcy. What to do? When to file bankruptcy? How to file bankruptcy? You can get all the answers straight away from the best lawyers of Monterey Park California

Call Fong Law Group at (626) 289-8299 for a FREE consultation, and talk to an attorney today. We are here to help you get through this difficult time in your life, and help you with a Fresh Start.

Is Debt Relief Better Than Bankruptcy?

One of the most common dilemmas that people often face is - debt relief vs. bankruptcy. Which one is better to choose? Both of these methods help you to come out of your outstanding debts that you are unable to pay off. When it comes to choosing one of these two methods, you need to consider a lot of different aspects related to your financial situations, debts remaining and more. A professional law firm or an experienced attorney can help you to choose the right method.

We, at Fong Law Group, can help you with your concerns related to debt relief and bankruptcy. We are located in Monterey Park, California and its surrounding areas. To learn more about bankruptcy vs. debt relief and how we can we help you, read on.

Debt Relief vs. Bankruptcy

Debt relief or debt settlement is about negotiation of the debt. In this case, you have to go through a debt management program where you will have a representative. You as well as your representative will attempt to make your creditors accept a certain portion of the total outstanding debt as the full payment. This is a kind of settlement which is done when you are unable to pay off your debts due to financial crisis.

On the other hand, there are mainly two different types of bankruptcies - a Chapter 7 bankruptcy and a Chapter 13 bankruptcy. The Chapter 7 bankruptcy is also called straight bankruptcy where you have to file for a complete bankruptcy petition showing your loan documents, bank statements and credit card statements. The Chapter 13 bankruptcy is more like a wage earner's plan to manage your debt. In this case, you have to pay a certain amount of money to the trustee on monthly basis which will be distributed to the creditors based on priorities.

 

Which one is better?

When it comes to bankruptcy vs. debt relief, both have the same goal, to relief the person from their mounding debt. When you are facing financial crisis and unable to pay off your debts, choosing the right one is important according to your needs. Both of them have certain advantages as well as disadvantages.

Pros of debt settlement

• You get to settle the debt with a certain amount of money as full payment
• There will be no add-on fee after the debt is settled
• State will regulate the entire process of debt settlement
• You can avoid public records of being into bankruptcy

Pros of filing bankruptcy

• You will get a clean pass to make a fresh start with a Chapter 7 bankruptcy
• You will have to pay a small amount of money per month to the creditors with Chapter 13 bankruptcy, but is ideal if you own and want to keep your house, or are still paying on a vehicle
• This can prevent your utilities from getting shut off due to nonpayment
• Chapter 13 Bankruptcy helps you in renegotiating your secured debts like car loans, house loans, etc.

Want to get the best advice about which one to choose between debt relief and bankruptcy? You need the best law firm in Monterey Park California, Fong Law Group.

Call Fong Law Group at (626) 289-8299 for a FREE consultation, and talk to an attorney today. We are here to help you get through this difficult time in your life, and help you with a Fresh Start.

What Does the Bankruptcy Process Involve?

There a lot of steps involved in the process of filing a bankruptcy. This is a legal proceeding that involves a business or a person who is not able to repay their loans or any debts. If you have decided to go ahead and file bankruptcy, then you might find it quite hard without the help of legal experts. It can be quite intimidating if you don't have the help from an experienced law firm. There are mainly two types of bankruptcy filings – a Chapter 7 and a Chapter 13. Both may take same time for filing but the process differs.

To make things easier and better for you, we at Fong Law Group can help you with the bankruptcy process. We are located in Monterey Park, California and its surrounding areas. Contact us, if you have any questions or queries related to the filing process.

 

Process of filing bankruptcy

So, what can a bankruptcy process involve? There are different steps that are involved in this process and these are:

Counseling before bankruptcy

Before the bankruptcy filing, you have to go through counseling where a credit counselor approved by the Government will discuss the possibility of the bankruptcy filing in the next 6 months. Here, you have to let them know about your financial situations, options for bankruptcy and starting a new budget.

Filing the petition

So, the next step will be will be to file the petition and this is one of the most complicated process. In this process, you have to provide all the documents that show your outstanding debts and categorize them in a proper form using a particular format. We, Fong Law Group, will create these documents for you after consulting with you regarding your financial situation and assessing your financial documents.

Automatic stay

The next step is called an Automatic Stay, and this will come into play as soon as you file the petition. With this Automatic Stay, it will stop the creditors from collecting the money from you. The creditors will not be able to call you or ask for the money, repossess your car or your house etc. But the creditors can go to the court for lifting the automatic stay order.

Sending the papers to trustee

You will have to meet the creditors after filing the petition but before that, you have to send all the documents to the creditors at least 5 days before the meeting. These documents will help to prove your statement about bankruptcy. Hence, the important papers or documents that you have to send are - current tax return documents, paychecks and your bank statements.

Meeting with creditors

The bankruptcy trustee will arrange a meeting of the creditors and you will have to attend it. Here, your identity will be verified and you will be asked questions regarding your finances and bankruptcy petition that you have filed.

Do you want to file bankruptcy following the exact legal proceeding smoothly and effectively? You need the best one law firm in Monterey Park California and surrounding areas.

Call Fong Law Group at (626) 289-8299 for a FREE consultatin, and talk to an attorney today. We are here to help you get through this difficult time in your life, and help you with a Fresh Start.

What Type Of Debt Cannot Be Discharged Through Bankruptcy?

Bankruptcy is one of the ways to declare your financial hardships. This can help people to get an opportunity to start afresh from scratch as most debts are often discharged when you file bankruptcy. There are two different types of bankruptcy - Chapter 7 bankruptcy and Chapter 13 bankruptcy. While in both the cases, the court can discharge some of the debts, there are certain debts that cannot be discharged. Discharging your debts means you may not have to repay those debts off and the collectors cannot attempt to collect those debts from you.

With a proper bankruptcy case and an efficient lawyer, you can fight for discharging most of your debts. For that, our Fong Law Group attorneys can help you in the best possible way. If you are located in Monterey Park, California or in surrounding areas, then we can be really helpful to you.

Debts that cannot be discharged

While there are two types of bankruptcy that you can file to get rid of the debts and loans, there are certain debts that cannot be discharged. Regardless of whether you have filed for a Chapter 7 bankruptcy or a Chapter 13 bankruptcy, there are certain debts that you cannot put behind for moving on in your life, however these debts can be restructured. Some of the types of debt in bankruptcy that are not eligible for discharge are:

• The payment for supporting your child or payment of alimony
• The debts for any personal injury or death caused by the mistake of the debtor
• The payments or debts for intentionally causing harm or injuries to a property or a person
• Some of the types of taxes (unpaid)
• Any penalties or fines that you own to any of the government agencies
• Loans you have taken for studies (student loans)
• Debts for any cooperative or condo housing fees
• Unpaid fees of the attorneys for the support and custody of your child
• A house loan or car loan

 

Can the court revoke the discharges?

When it comes to taxes, the court can discharge some of the unpaid federal and state taxes if they are more than seven years old. At the same time, some of the discharges can also be revoked by the court under some circumstances. If a trustee or a creditor takes the matter to the court with some evidences or proofs to show why the discharge should be revoked, the court can take action and determine whether that should be done. For this, you need to have the best in class bankruptcy attorney or lawyer who can help you in building a stronger case with all the important documents provided to the court.

In such cases, it will not be easy to revoke any discharges. But you will have to take care of all the debts that are not included in the discharged list by the court through your bankruptcy filing. To ensure that you are getting the best support and guidance, you have to choose the best law firm; Fong Law Group in Monterey Park, California is here to help you.

Call Fong Law Group at (626) 289-8299 for a FREE consultation, and talk to an attorney today. We are here to help you get through this difficult time in your life, and help you with a Fresh Start.

Can I File for Bankruptcy If I Make a Lot of Money?

One of the most prevalent bankruptcy myths is that high-income borrowers make too much money to file. However, depending on the financial condition, you may be eligible for Chapter 7 and Chapter 13 regardless of the income. Let's take a look at how high-income people are treated when they file for bankruptcy.

Chapter 7 Bankruptcy and Earnings

Most people prefer to file this form of bankruptcy since it eliminates most existing debts, like credit card debts, and medical bills, without needing the debtor to make monthly payments to creditors for 3 to 5 years.

However, not everyone fulfills the Chapter 7 discharge needs. The two-step means test should be passed.

Household Earnings

The first section asks if the family's earnings are less than the nation's median income. If it is, you will be eligible and will not be required to finish the second part.

If you have a high income and support a large number of people, you can skip the first part.

Chapter 7 Bankruptcy Eligibility

Some borrowers prefer Chapter 7 bankruptcy since it is quick. Even though it technically needs the liquidation of investments, most people keep the homes, cars, and retirement accounts since there are many exemptions.

Is There a Restriction on How Much Money You Can Make if You File Chapter 7?

Yes. Top earners, on the other hand, may find it difficult to meet the needs for Chapter 7 bankruptcy.

People with a high income are finding it harder to meet the criteria for Chapter 7. This federal law aims to force those with sufficient financial resources to repay a greater portion of their loans through a Chapter 13 payment schedule.

The defense attorney will use the means test to determine which sort of bankruptcy you are eligible for. You can contact Fong Law Firm if you live near Monterey Park California and surrounding areas.

Chapter 13 Bankruptcy and Income

Many users save more cash in Chapter 13 or at least minimize their monthly payments. A trustee will prioritize your debts in this type of bankruptcy, and a monthly mortgage plan will be formed. Following the calculation of the income and expenditure, the program needs to make your "perfect effort" to pay back the debt.

What Role Does Your Income Play in Chapter 13 Bankruptcy?

Bankruptcy laws do not prevent someone with a high income from filing for Chapter 13 bankruptcy protection. However, the length of the repayment schedule established by the person will be influenced by the income. Those getting paid more than the present state median, according to the court, can pay back a large portion of the debt owed.

The leftover non-priority existing debt will be dismissed once the Chapter 13 installment plan is completed. You will then be free of that debt.

Can I Make a Lot of Money and Bankruptcy?

Top earners who file for Chapter 7 bankruptcy must demonstrate that they are acting in good faith. To their debt holders, their expenses should be fair and accurate. In general, you won't be able to pay for luxury products if you haven't paid the unsecured creditors.

Call Fong Law Group at (626) 289-8299 for a FREE consolidation, and talk to an attorney today. We are here to help you get through this difficult time in your life, and help you with a Fresh Start.

Which Business Debts Are Discharged in Chapter 7 Bankruptcy?

People who have debts can declare bankruptcy and get a new beginning through liquidation or reorganization. Specific debts can be discharged by the bankruptcy proceedings in both cases. The debt collector can no longer speak up against the borrower, like trying to collect payment or seizing any collateral, once the loan has been expelled. However, not all loans can be discharged, and some are exceptionally hard to discharge.

Is It Possible for a c to Be Denied by the Courts?

It's possible. The majority of personal debtors are discharged under Chapter 7. The entire bankruptcy situation may be rejected if the court determines that individual hidden money or even other resources, fraudulently acquired assets that must have been used to repay loans, or otherwise violated the rules.

Business Debt and Bankruptcy

You can release the following types of debts in bankruptcy Chapter 7:

• bills from credit cards
• a few court rulings
• medical expenses
• a sole proprietor's unprotected debts
• obligations arising from sole proprietorship leases and agreements

Debts that are secured are handled differently. If you don't pay your bill, the creditor can seize the collateral used to secure the loan, even though you declare bankruptcy.

Personal Bankruptcy and Business

In Chapter 7 bankruptcy, some forms of debt are not dischargeable.

Non-dischargeable debts include:

• back child benefit and alimony
• court-ordered fines, punishments, and restitution
• assumptive fraud
• student loans only if paying back them is a severe hardship
• debt incurred as a result of potential fraud

A bankruptcy Chapter 7 may stay on the credit reports for ten years, while a Chapter 13 bankruptcy will stay on the credit file for seven years. This can make borrowing money at some point, like for a home loan or car loan, or obtaining a credit card, more costly or even impossible. It will have an influence on insurance rates. You can contact Fong Law Firm if you residing near Monterey Park California and surrounding areas.

So, before filing bankruptcy, you should look into other alternatives for debt relief. Debt relief usually entails negotiating with the lenders to make the debts more tolerable, like lowering interest rates, canceling a part of the debt, or extending the repayment period.

The Impact of Bankruptcy on Investors

No one expects a company to go bankrupt when they invest in it, whether through equities or debt equipment. Once you venture beyond the risk-free domain of government-issued equities, you understand this additional risk.

When a company files for bankruptcy, its equities typically continue to trade, albeit at very low prices.

Shareholders are even further down the ladder during Chapter 7. Usually, a business's stock becomes valueless during the Chapter 7 trial, and shareholders lose all their money. You may even get a fraction of the full price of a bond unless you hold one. What you'll get is determined by the number of investments available for allocation.

Secured lenders have a better chance of recovering their preliminary investments' value. Before receiving any compensation, unprotected creditors should wait until protected creditors have been properly compensated. Stockholders generally get very little, if anything at all.

Call Fong Law Group at (626) 289-8299 for a FREE consolidation, and talk to an attorney today. We are here to help you get through this difficult time in your life, and help you with a Fresh Start.

Does Filing Chapter 7 Affect Your Tax Return?

Some people who file for Chapter 7 bankruptcy can keep the tax refund, though not all. The rules of the state, and the pre-bankruptcy safety measures you take to secure the refund, will determine whether you can maintain it.

What Year Did You Get Your Tax Refund?

The first step in evaluating whether you can hold the tax refund is to determine whether it was received before or after you filed for bankruptcy.

Any profits generated after declaring bankruptcy that leads to a profit is yours to hold. If you earn a tax refund depending on the salary earned before declaring bankruptcy, it will be included in the bankruptcy estate, whether you got it before or after the date of filing.

Taxes and Bankruptcy

If you're concerned that you'll lose your refund if you file for bankruptcy, there are steps you can take to protect it. In most situations, you'll be able to maintain the refund if you:

• have sufficient time to reduce the withdrawal to a minimum amount
• spend the reimbursement on major expenses
• defend (exempt) the repayment with a bankruptcy exemption

Make Changes to the Tax Withholding

If you expect to declare bankruptcy in the coming year, you can prevent a refund by changing the withholdings so that you pay the tax you deserve.

You'll receive more money in every paycheck, which you can put toward necessities. It's critical, however, to ensure that you proceed to withhold enough money to cover the money you owe. If you live near Monterey Park California and surrounding areas, you can contact Fong Law Firm.

Getting Ready for Chapter 7

Here are some tips to help you keep the tax refund if you file for Chapter 7 bankruptcy.

If you file your taxes during the tax season: When people file for bankruptcy during tax time, they often have to find what to do with their tax refund. To preserve it, you can use wildcard exemption. If the state does not provide these exemptions, or if you wish to save the wildcard for something else, consider the following options:

After you've received and spent the tax refund, if at all possible, file bankruptcy. If you go this route, make sure to spend the refund on essentials (like the mortgage, medical bills, clothing, or food) rather than on new assets.

Make a payment to the bankruptcy attorney with the tax refund to cover the fees and expenses of the case.

To Protect Your Refund, Use an Exemption

By declaring the tax return as an exempt asset that the holder isn't allowed to use, you may even be able to hold it. This is how it goes.

When a borrower files for Chapter 7, all the assets become a piece of the bankruptcy estate. The trustee in Chapter 7 can use the resources you have when you request to pay the unsecured debts (that owed money that isn't protected by the property).

Most states do not allow you to keep much cash in a bank account under lock and key. Some government exemption systems, on the other hand, have generous wildcard exclusions that cover any estate you choose and can be used to protect a tax refund.

Call Fong Law Group at (626) 289-8299 for a FREE consolidation, and talk to an attorney today. We are here to help you get through this difficult time in your life, and help you with a Fresh Start.

Can I Sue Someone Who Has Filed for Bankruptcy?

You can register a lawsuit if someone breaks a deal or harms you in a certain way, and you want money to compensate you for your loss. However, if the person you like to sue declares bankruptcy, you may be out of luck. The sort of problem and the time of the incident will determine whether you can file a lawsuit.

Suing Someone Who Claims Bankruptcy

The automatic stay imposed by bankruptcy prevents most lawsuits from being filed after the bankruptcy is lodged. Private loans, credit card bills, hospital expenses, utility bills, and accidental injury claims are all examples of loans for which you can't file a lawsuit.

There are some circumstances in which a lawsuit can survive. For example, declaring bankruptcy will not prevent a criminal case from proceeding. The lawsuit of bankruptcy has no bearing on divorce or custody hearings. If the user declaring bankruptcy was intoxicated at the time of accident or injury, the legal case against them can be continued. In addition, lawsuits arising from debts incurred after a bankruptcy filing may be pursued. You can file a case against the borrower if they cause accidents one month after declaring bankruptcy and harm the car.

The court's verdict on whether or not to grant the request is contingent on the facts. After the court announces an automatic stay, lenders can sometimes acquire a debt.

Even after a judge announces an automatic stay, the borrower may be required to pay the debt. The creditor, except for fraud cases, can get an exemption. The creditor must show that the automatic stay is detrimental to their legitimate dispute, legal agreements, or property. You can visit Fong Law Firm if you are residing near Monterey Park California and surrounding areas.

Cases When a Bankruptcy Filing Will Not Discharge

Can you collect money from someone in the following situations?

Fraud: If the debtor committed fraud and incurred debt, the debt cannot be dismissed by declaring bankruptcy.

Personal Injury Situations: If the borrower was driving under the influence and caused the accident, bankruptcy will not be able to discharge the mortgage. This sort of lawsuit can be filed in a bankruptcy trial to decide whether the offender was intoxicated.

Debt After Bankruptcy: This debt cannot be discharged if the borrower applied for a mortgage within 3 months of declaring bankruptcy and failed to repay it.

Bankruptcy and Suing Someone

A complaint will be lodged on you if the mortgage is non-dischargeable and the lender is permitted to sue. This is a printed document that explains why a lender or other party suing you must be allowed a bankruptcy proceeding exemption.

The document is delivered to the address listed on the bankruptcy complaint. A summons will be served on you, detailing how soon you must react to the concerns and whether you must attend court. The bankruptcy court judge can issue the state lawsuit to be transferred to federal court after it is filed.

The sort of case or how much the lawsuit has advanced will determine whether the court commands the case to be moved.

Call Fong Law Group at (626) 289-8299 for a FREE consolidation, and talk to an attorney today. We are here to help you get through this difficult time in your life, and help you with a Fresh Start.

Multiple Bankruptcy Filings: When Can You File Again?

Can you file bankruptcy more than once? Is there any waiting period? Yes, you can consider filing bankruptcy again in California. Many Americans keep wondering about the impact if they file for bankruptcy again. Some even doubt that they can file many times. If you have any bankruptcy concerns, you can consider visiting Fong Law Group. Their attorneys can find a suitable solution based on your financial position. In the following, we will know more about multiple bankruptcies.

 How Long You Need to Wait

The waiting time will vary based on chapters. Also, there will be some other limitations. You will have to go through both benefits and downsides. If you file bankruptcy again soon after eliminating your debts in the previous filing, you cannot get discharged again. Even if you cannot get a discharge, you can think of filing bankruptcy again under certain circumstances. Lawyers in Fong Law Group can help you with the best legal solution.  You will know when and how you can file bankruptcy again. Fong Law Group offers legal services to Monterey Park California, and surrounding areas. You can reach out whenever needed.

When it comes to the waiting period and other limitations, you will have to understand the combinations.

Chapter 7 to Chapter 7

You might be aware that Chapter 7 bankruptcy can discharge most of your loans. However, you cannot file under this chapter frequently. Yes, you will have to wait for eight years to file bankruptcy under this chapter again. The waiting period will be eight years between both filing dates.

Chapter 13 to Chapter 13

When it comes to filing again under chapter 13, you will not have to wait long. You can file again after two years. But you might need to wait a bit longer since the repayment plan can continue for three years. You can decide based on your condition.

Chapter 7 to Chapter 13

If you have filed bankruptcy under chapter 7, you might need to wait four years to file bankruptcy under Chapter 13. The time will start from the filing date of your previous bankruptcy. After four years, you can think of filing bankruptcy under Chapter 13.

Chapter 13 to Chapter 7

You might need to wait for six years. But you can get some relaxation if you have repaid at least seventy percent of your debt. With a good repayment history, you can file again within one year.

Can I File Multiple Bankruptcies?

Yes, you can file multiple bankruptcies. Even if there is a waiting period between filings, you will have the option to file many times. However, it will impact your credit and loan-taking ability. Hence, you can avoid multiple bankruptcies.

Can I Receive A Discharge?

Yes, you can receive a discharge if you have not received it in your first bankruptcy filing. However, you will not get an automatic stay order.

Do you have any doubt? Call Fong Law Group at (626) 289-8299 for a FREE consolidation, and talk to an attorney today. We are here to help you get through this difficult time in your life, and help you with a Fresh Start.