Can You File for Bankruptcy Again? What You Need to Know

Bankruptcy Law

If you have previously filed for bankruptcy and you have found yourself in financial trouble for a second time, you may wonder if you are allowed to file for bankruptcy again. The following is some information you should know if you need help with your debt again.

Can You File for Bankruptcy Again?

If you need to deal with financial difficulties a second time through bankruptcy, it may be possible to file again. According to the bankruptcy code, you can file for bankruptcy again after a certain amount of time if your prior bankruptcy resulted in a discharge of your debt. If you file before your time limit is passed, you will not receive a discharge again.

By law, if you did not receive a discharge of your debt on your prior bankruptcy, you can file again without a waiting period.

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Divorcing a Tax Cheat? 4 Ways Their Actions Affect You

Close up of Female Making Calculations

Have you discovered during a divorce that your spouse has been committing tax fraud while you were married? Unfortunately, this now puts you in a tricky spot. You need to look after your own interest first and foremost. Those interests, though, can be confusing and may represent multiple challenges.

To help you determine what to do with this new information, consider these unexpected side effects before making any moves.

1. You May Feel an Obligation

For many people, knowing about a fraudulent activity makes them feel morally bound to tell an authority — even if your own taxes were involved. If you feel this way, the best thing you can do is to work with a qualified tax attorney to determine the best way to go about it. The IRS and state tax agencies will generally consider your good faith efforts to be honest and forthcoming, but they are not obligated to.

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