While it is possible for an individual to file for bankruptcy more than once, there are certain requirements which must be met. Each different form of bankruptcy has a waiting period between filings. The waiting period was established to discourage and prevent people from continuously mounting up a massive amount of debt and attempting to seek bankruptcy protection to avoid fulfilling their financial obligations. Another requirement is that whether you are filing for bankruptcy for the first time, or you have found yourself facing the need for bankruptcy protection again, you will need to complete a credit counseling course prior to filing your petition.
You will also have to attend your bankruptcy hearing to defend your reasons for seeking bankruptcy protection. You will then be required to complete a financial management class before your case can be concluded and your debts discharged. It is not uncommon for creditors to be a more resistant to a second or third bankruptcy filing. Where a creditor may have been willing to relinquish their claim or concede to a first time bankruptcy filing, this may not necessarily be the case if you file for bankruptcy a second time. The bankruptcy court can also be expected to be extremely thorough when reviewing your finances and the circumstances that led up to the need to file for bankruptcy once again.
To verify that you are qualified to file for bankruptcy for a second or third time, it is advised that you have an experienced bankruptcy lawyer review your current financial situation as well as all the documentation connected with your previous bankruptcy. The lawyers at Hensel Law Office, PLLC have been able to help many individuals, couples and business owners to avail themselves of the benefits of bankruptcy protection. They strongly believe that everyone deserves a chance to regain control of their finances and start over. Unexpected problems can arise even for the most financially responsible people. The firm's dedication to their clients is unwavering.
You deserve another chance to get your financial problems under control. The firm will advise you regarding what is involved in a second or third bankruptcy, and ensure that your petition is in full compliance with the law. To find out more, contact a Michigan bankruptcy lawyer at the firm today.