0
As an unknown individual at the Doney & Associates law firm surmised, "there is no real Chapter 20, but we bankruptcy attorneys amuse ourselves by proving that we can add." A Chapter 20 is when you file a Chapter 13 right after a Chapter 7. One reason some people do this is because you cannot stop a home foreclosure with a Chapter 7, but you cannot file a Chapter 13 if your unsecured debt exceeds a certain dollar amount. So, if someone's home is being foreclosed but their unsecured debt amount exceeds the limit for a Chapter 13, those persons may file a Chapter 7 and wipe out the unsecured debt, then file a Chapter 13 and stop the home foreclosure. Some Courts frown on Chapter 20's since they see it as an unfair manipulation of the bankruptcy code.
Wiki User
∙ 19y ago
Add your answer:
Earn +20 pts
What is the ratio of Chapter 7 to Chapter 11 filings for businesses?
what is the ratio of chapter 7 to chapter 11 filings for businesses?
What can you file Chapter 13 on?
What is Legal to file Chapter 13 on ?
If you filed a Chapter 13 in 1998 and converted to a Chapter 7 in 1999 in what year are you eligible to refile a Chapter 7?
6 Years from the date of filing of the Chapter 13. (Only because it was converted).
Could you change your chapter 7 to chapter 13 after being discharged?
Sometimes Chapter 13 debtors need or want to convert their bankruptcy case from a Chapter 13 to a Chapter 7 bankruptcy. And sometimes the bankruptcy court will force you to convert from Chapter 13 to Chapter 7 - this is often called a "forced conversion." The reasons for conversions vary. For the most part, if you are instigating the conversion, you have a right to convert your case. But that doesn't always mean you'll qualify for Chapter 7 relief.
What is the difference between chapter 11 vs chapter 7 bankruptcy?
The major difference between Chapter 11 bankruptcy and Chapter 7 bankruptcy is that Chapter 11 offers more flexibility so that debtors can negotiate terms without having to sell their assets. Under Chapter 7 bankruptcy, the debtor's assets are almost always sold to pay off their debt. Chapter 7 also features a level of debt forgiveness, whereas Chapter 11 does not.
Who comes to the trial at the end of chapter 20?
In Chapter 20 of what book?
What chapter in the AFI 36-3026 contains policy information on the 20-20-20 rule?
Chapter 3
What is the first chapter in Fullmetal Alchemist volume 20?
The first chapter in volume 20 of fma is Chapter 79: Bug Bite
Which chapter in the AFI 36 3026 IP contains policy information o the 20-20-20 rule?
chapter 3
What chapter is the cave scene in heavenly fire?
Chapter 20
What book and chapter records the ten commandments?
The Ten Commandments are found in the book of Exodus, chapter 20 in the Old Testament of the Bible.
What is the translation of chapter 20 of ecce Romani?
See related links, please. --------- ecceromanitranslations.org has the translation for chapter 20.
What is the revelation at the end of chapter 20?
In chapter 20 of what book or story? Without context, it is difficult to provide a specific answer.
What chapter does edward come back in in new moon?
chapter 20
What chapter does the film Breaking Dawn end?
chapter 20 New
How many verses in the book of Ecclesiastes?
The book of Ecclesiastes has 222 verses. Chapter 1 - 18 Chapter 2 - 26 Chapter 3 - 22 Chapter 4 - 16 Chapter 5 - 20 Chapter 6 - 12 Chapter 7 - 29 Chapter 8 - 17 Chapter 9 - 18 Chapter 10 - 20 Chapter 11 - 10 Chapter 12 - 14
What chapter does Atticus say his closing argument at the Tom Robinson trial in the novel 'To Kill a Mockingbird'?
Atticus delivers his closing argument in Chapter 20 of the novel 'To Kill a Mockingbird.'
