In my early 20’s I had invested in rental properties; I was young and made some bad choices and had to file a Chapter 7 Bankruptcy. This took place in the 80’s.
I have filed for reorganization on two other occasions. I used the law to hold of lenders until I could gather the funds to satisfy the debt. Both of these were dismissed by me after I gathered the funds to pay off the debt. This is a common practice when dealing with lenders that will not work with debtors. This was done to protect my partners; all of my assets are held in a family trust and therefore protected, but some of my partners had not created trusts. I learned from my experience with this in the 80s.