Illinois Resident Question:
Through Internet research (because if its on the Internet is has to be factual - right?) and on various Attorney websites there are discussions of filing for a Chapter 20 Bankruptcy. Chapter 20 Bankruptcy must be slang for filing a chapter 7 Bankruptcy discharging all unsecured debt and when discharged immediately filing for a Chapter 13 Bankruptcy to restructure various mortgages or other secured debts. Now it claims there are many benefits to Chapter 20 Bankruptcy but the largest pitfall is the "bad faith filing objections" that will be sure to be part of the Chapter 7 Bankruptcy. Several law firm website site note they can beat the Chapter 7 means test but don't discuss the perils of "bad faith filing objections".
Has anyone been involved with a Chapter 20 Bankruptcy or know how to overcome/address the "bad faith filing objections" that will surely take place?
Through Internet research (because if its on the Internet is has to be factual - right?) and on various Attorney websites there are discussions of filing for a Chapter 20 Bankruptcy. Chapter 20 Bankruptcy must be slang for filing a chapter 7 Bankruptcy discharging all unsecured debt and when discharged immediately filing for a Chapter 13 Bankruptcy to restructure various mortgages or other secured debts. Now it claims there are many benefits to Chapter 20 Bankruptcy but the largest pitfall is the "bad faith filing objections" that will be sure to be part of the Chapter 7 Bankruptcy. Several law firm website site note they can beat the Chapter 7 means test but don't discuss the perils of "bad faith filing objections".
Has anyone been involved with a Chapter 20 Bankruptcy or know how to overcome/address the "bad faith filing objections" that will surely take place?
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