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If you think you'll incur significant debts in the near future, it might make sense to wait to file for Chapter 7 bankruptcy. Although your current debts (with some exceptions) will be discharged in your bankruptcy, debts incurred after you file for bankruptcy won't be. Because you can't file for bankruptcy for eight years after the filing date in a previous Chapter 7 discharge, you'll be on the hook for those debts for a long time. To learn about other situations in which it makes sense to delay your bankruptcy filing, see Nolo's article Should I File Bankruptcy Now or Wait?