Understanding “Chapter 20″ Bankruptcy
The United States Bankruptcy Codes have more chapters than the average person is familiar with. While most people have heard of Chapter 7, 11, and 13, there are also Chapter 12 and Chapter 15 bankruptcies. Some people might even have heard of a “Chapter 20″ bankruptcy, and have questions about what it is and how it works. While not an official part of the bankruptcy code, “Chapter 20″ filings can actually be tremendously positive in some situations.
If you or someone you love is facing severe financial hardships and is wondering what options are available, the Boca Raton bankruptcy attorneys of Eric N. Klein & Associates, P.A. may be able to help. Contact us today by calling 561-353-2800.
“Chapter 20″
“Chapter 20″ is not actually a type of bankruptcy, but rather, is a clever name describing a Chapter 13 bankruptcy filing followed by a Chapter 7 filing. A “Chapter 20″ filing has a number of benefits, including:
- Combining the benefits of Chapter 13 and Chapter 7 bankruptcies
- It can help protect your house while giving you the ability to pay down your outstanding debts
- Allowing you potentially more complete debt protection
While a “Chapter 20″ may offer you additional protection, not everyone qualifies for it. You should discuss your case at length with an experienced bankruptcy attorney to learn if you qualify and if it could benefit you.
Contact Us
If you or someone you love is facing extreme debt and you don’t know what to do, bankruptcy may be the best option. Contact the Boca Raton bankruptcy lawyers of Eric N. Klein & Associates, P.A. today by calling 561-353-2800 to learn more about your options.
