June 27, 2019 By:
If you file a second bankruptcy petition within a year of a prior filing, the automatic stay for the subsequent filing will only remain in effect for 30 days, unless you successfully ask the court to extend it. If you’ve filed twice in the last year, the automatic stay will never be imposed. The rules apply regardless of whether your prior bankruptcies were completed or dismissed. The court has discretion to extend an automatic stay in this situation, but will typically only do so when there’s evidence of good faith in the multiple filings.
You must comply with the terms of a reorganization plan or other court order, and you must take reasonable steps to ensure that any collateral is protected. If you don’t, a creditor can ask the court to lift the automatic stay.
When your bankruptcy estate includes secured property, you must submit to creditors a statement of intent, advising what you plan to do with the collateral. That must be filed within 30 days of your bankruptcy petition. Missing the deadline may lead the court to lift the automatic stay.
At the Law Office of Carrie L. Weir, I provide a free initial consultation to anyone with questions or concerns regarding a personal bankruptcy filing. Contact my office by e-mail or call me at 972-772-3083 to schedule a private consultation. With offices in Rockwall, Texas, I represent clients in Heath, Greenville, Lavon, Wylie, Mesquite and Rowlett.