Filed Bankruptcy in 2002, do the recent 2005 laws effect me? I filed Chapter 13 Bankruptcy in 2002.?

by **adare** » Wed Mar 28, 2012 9:05 am

My mother filed Chapter 13 Bankruptcy in Feb. 2002, She wants to file Bankruptcy again and I believe back in '02 it was that you couldn't file Bankruptcy for about 6 years, and which in this case it's been 6 years. But laws changed in 2005, does that effect my mother or no? Also, what chapter would she be able to file Bankruptcy in? Thanks!

by **napayshni65** » Wed Mar 28, 2012 9:12 am

You know the new laws are a bit tougher too, here's another place for some info

http://www.legalconsumer.com/

Best Luck to Mom!!

by **mate** » Wed Mar 28, 2012 9:14 am

No, all bks filed before 2005 are governed under the original rules, which was 6 years before you could file again. She could file in either chapter, but which is best will depend upon her current financial situation. If she has no assets to protect, then a ch 7 is probably best. If she has a home and retirement assets to hold on to, perhaps a ch 13 is more in order. I would guess she'll probably want to do a 13 again since she probably chose that the first time to protect some sort of asset. A good attorney can help you figure out the best course of action, but do be careful as they get paid more for 13s. Do your due diligence before signing up.

by **drystan** » Wed Mar 28, 2012 9:17 am

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by **achban** » Wed Mar 28, 2012 9:20 am

No, all bks filed before 2005 are governed under the original rules, which was 6 years before you could file again. She could file in either chapter, but which is best will depend upon her current financial situation. If she has no assets to protect, then a ch 7 is probably best. If she has a home and retirement assets to hold on to, perhaps a ch 13 is more in order. I would guess she'll probably want to do a 13 again since she probably chose that the first time to protect some sort of asset. A good attorney can help you figure out the best course of action, but do be careful as they get paid more for 13s. Do your due diligence before signing up.

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