The Sacramento area was one of the hardest hit by the Great Recession that followed the financial crisis in 2007 and 2008. Homeowners saw 50% or more reductions in their home values. The construction industry, mortgage industry, manufacturing industry and others saw massive layoffs not seen in decades. Many of the people who filed bankruptcy in the last several years still find themselves in financial hardship and are seeking advice from bankruptcy attorneys in Sacramento regarding how long they must wait before filing bankruptcy in Sacramento again. As set forth in 11 U.S.C. § 727, a debtor may not receive a discharge in a current Chapter 7 proceeding if she received a discharge in a prior Chapter 7 proceeding in the last 8 years. So a person needs to wait at least 8 years before filing another Chapter 7 bankruptcy in Sacramento.
