What happens if you filed for bankruptcy 4 years ago and again have money problems?

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What happens if you filed for bankruptcy 4 years ago and again have money problems?

I filed for chapter 7 bankruptcy 4 years ago and now I have run into some problems with money and might not be able to pay my mortgage. If my house gets foreclosed on does that affect the chapter 7 in any way? Will all my debt from 4 years ago come back to me?

Asked on October 13, 2010 under Bankruptcy Law, Massachusetts

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Your debts cannot"come back" to you once they have been discharged, as a general rule.  However, did you "re-affirm" your mortgage? If you did and your home is foreclosed on you can be liable for any shortfall if it sells for less than the amount of the outstanding mortgage (the "deficiency"). If you did not re-affirm your mortgage, the you can simply walk away from the house it if is foreclosed on.

As for re-filing at this time you should be aware that a debtor cannot obtain a discharge in a Chapter 7 case if the debtor obtained a discharge in (a) a Chapter 7 case filed within the past 8 years, or (b) a Chapter 13 case filed within the past 6 years.  And debtor cannot obtain a discharge in a Chapter 13 case if the debtor obtained a discharge in (a) a Chapter 7 case filed within the past 4 years, or (b) a Chapter 13 case filed within the past 2 years.  The time periods are measured from the commencement date of the case; the dates of discharge have no bearing.


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