Who can file for Bankruptcy?
An individual, a partnership or a corporation may file a Chapter 7 bankruptcy; however, only individuals may file under Chapter 13 of the Bankruptcy Code. The following circumstances speak to individual filings only:
- Marital Status: You may file your petition jointly with your spouse or separately regardless of marital status.
- Prior Bankruptcy Voluntarily Dismissed: If you filed a bankruptcy petition that was voluntarily dismissed by you, you may need to wait until six (6) months has elapsed to file a second petition.
- Prior Bankruptcy Discharge: If you received a Chapter 7 discharge, you may not petition the Bankruptcy Court again for relief under Chapter 7 until eight (8) years has elapsed since the prior case’s filing. You may, however, file a Chapter 13 petition after a Chapter 7 discharge within four (4) years of the prior case filing or discharge, as the case may be. Conversely, a prior Chapter 13 discharge precludes you from filing a Chapter 7 petition within six (6) years of the prior case’s filing date. Alternatively, you only need to wait two (2) years from the prior Chapter 13 filing date to seek a second Chapter 13 discharge.
- Residency: You must be a resident of the federal judicial district in which you reside for at least 180 days before that district’s Bankruptcy Court is considered the proper forum (“venue”) to entertain your petition.