Bankruptcy refiling is a common question potential clients ask. Can you refile a bankruptcy they ask. Yes, you can refile a bankruptcy. But the effect of a subsequent bankruptcy filing varies depending on how long it has been since you last filed bankruptcy. It also depends on how the prior bankruptcy concluded. Was the prior bankruptcy case concluded successfully? Did it result in a bankruptcy discharge, or was it dismissed. When a bankruptcy case is completed, and all goes well, the result is a discharge. A bankruptcy discharge eliminates your debt. With a Chapter 7 bankruptcy normally all your debt is discharged. In a Chapter 13 bankruptcy you commonly pay a portion of your debt, and then discharge what you cannot afford to pay. But if a case is dismissed, a discharge is not ordered by the bankruptcy court.

Refiling after a prior case was dismissed is common, and can usually be filed right after the prior case is dismissed. A bankruptcy refiling after the previous case was discharged may result in another discharge, or it may not. It depends how long between the bankruptcy filings.

If it has been 8 years since your last case was filed,

 Bankruptcy obligations are many. But so are the benefits. Some of the most basic requirements are to disclose all your debts. The same goes for all your assets. Listing your debts is obvious. The purpose of filing for bankruptcy is debt relief. Listing your debts in your bankruptcy paperwork is a given. It is how your creditors are notified of your bankruptcy filing.

But just as important is listing your assets. Bankruptcy obligations require you disclose all your assets. This includes all of your property. And I mean all of it! If you don't list all your stuff, you might not be able to keep it. Even worse, you may not be entitled to bankruptcy benefits. Intentionally concealing your property may land you in legal trouble. Big legal trouble. This news story depicts the story of a doctor who hid her assets from bankruptcy. Bad idea. Don't do it is the lesson.

Bankruptcy law allows you to retain your possessions. Normally for consumers filing bankruptcy, this includes all their property. But bankruptcy obligations require you disclose all your assets, even if you have more property than you are allowed to keep. "Lending" property to a relative or "forgetting" a

Bankruptcy may be a last financial resort for some. But it can be a good one. Bankruptcy allows you to reduce or, in many cases, eliminate your debt. At the same time, assets can be protected. This is an obvious benefit. Senior bankruptcy benefits can be even better. This New York Times article points out many of these benefits.

Seniors often live on a fixed income. Social Security benefits and pension payouts are constants. Aside from cost-of-living adjustments, they don't change. The stability may be good, but not adequate when facing increased costs. Debt can make this worse. This is when senior bankruptcy benefits can be recognized.

Debt is not a constant cost. It grows. Seniors on a fixed income can be susceptible to this financial mismatch. Rising debt and static income is a common problem facing seniors. So are medical bills. Bankruptcy may be a solution. Eliminating debt is one of the best senior bankruptcy benefits. But so is protecting assets.

Bankruptcy laws allow you to protect your property. You can protect your assets and still eliminate your debt by filing bankruptcy. Exemption laws allow you to protect your home equity, cars, cash, retirement and more. One of the