Ohio Bankruptcy Law - "How many times can I file bankruptcy?"

Debtors may file Chapter 7 only once during any 6 year period.. If a Chapter 7 discharge was granted within the 6 years preceding the filing of a petition for relief under Chapter 7, the case must be dismissed. Notice the period of calculation: the end of the last case, to the beginning of the new case.

Ohio Bankruptcy Law - In Practice

If a previous case was filed under chapter 11 or Chapter 13 during the preceding 6 years, the debtor will not be allowed to receive a discharge of debts in the subsequent case unless: 1) all the "allowed unsecured" claims in the earlier case were paid in full; or 2) payments under the plan in the earlier case totaled at least 70 percent of the allowed unsecured claims and the debtor's plan was proposed in good faith and the payments represented the debtor's best effort. In practice, few debtors file multiple cases. The experience of filing bankruptcy is usually a once in a lifetime event. Most debtors benefit and learn from the experience, then take decisive steps to insure against future filings.

The operation of law pertaining to federal debt relief is complex. State law statutes, federal rules, and decisions rendered by courts combine to establish a local standard for Ohio Bankruptcy Courts. Anyone who considers filing should, at a minimum, balance short term requirements to long term benefits. Each debtor is different. The most valuable benefits are a personal choice, with availability dependent upon the application of law to unique circumstances.

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