What Is "Chapter 20" Bankruptcy?

Chicago Chapter 20 Bankruptcy Attorney

While filing for bankruptcy can alleviate your burdensome debt, sometimes it just isn't enough. There is another way to obtain maximum relief from both types of bankruptcy through a Chapter 20 bankruptcy. Our attorneys are experienced and knowledgeable of this strategy and can help guide you through the process.

Our law firm, Sulaiman Law Group, LTD., has years of experience handling complex bankruptcy cases. Our knowledgeable staff has a desire to help people through their financial difficulties and uses the law to find a fresh start. Located in Oak Brook, Illinois, we serve clients in Chicago and the surrounding areas.

Contact a Chicago bankruptcy lawyer by calling us at 312-313-1613.

What Is a Chapter 20 Bankruptcy?

Are you surprised that you have not heard of a Chapter 20 bankruptcy? Don't be. It actually does not exist. It is the name given to filing a Chapter 7 and Chapter 13 bankruptcy back-to-back. It is not a common practice and is most frequently used for those interested in saving their home or getting rid of a lien on their home. Because it is a unique request, you need an experienced bankruptcy attorney to handle your situation.

How Does a Chapter 20 Work?

This process requires a dual filing, which makes it both complex and time consuming, so you need a knowledgeable and skilled attorney to handle your situation. The process essentially works by filing Chapter 13 after a Chapter 7 discharge on unsecured debt. Step by step, we guide you through the following process:

  • File a Chapter 7, receive discharge of debt
  • Use Chapter 13 to dispose of liens
  • Can also use Chapter 13 plan to pay off nondischargeable debts over time
  • Buys additional time to avoid collection actions
  • Can also bring claims against creditors for violations of Chapter 7 stay, Chapter 7 discharge, etc.

Who Would Use a Chapter 20 Bankruptcy?

We often recommend this approach to individuals and families who have a tremendous amount of unsecured debt and who are behind on mortgage payments as well. Often they need help eliminating a second mortgage.

Contact a Chapter 20 Bankruptcy Attorney for Help

If you are looking for an attorney who thinks outside of the box and finds creative legal solutions for debt, you have come to the right place. Our lawyers work within the confines of the law to find the best solutions for your unique situation. Contact us online or by calling us at 312-313-1613.