Chapter 13 bankruptcy helps people struggling with debt by putting them on a repayment plan that can make it easier to pay back what they owe a chapter 13 bankruptcy requires repayment over a three or five year period once you have completed your repayment period some of your remaining debts may . A chapter 13 bankruptcy is also called a wage earners plan it enables individuals with regular income to develop a plan to repay all or part of their debts under this chapter debtors propose a repayment plan to make installments to creditors over three to five years if the debtors current monthly income is less than the applicable state . Chapter 13 bankruptcy none of your assets are sold when you file with a chapter 13 bankruptcy you agree to a court approved repayment plan of your debts depending on your income your repayment period may be three years or five years. Which debts are discharged in chapter 13 bankruptcy not all debts are discharged in chapter 13 bankruptcy of course if you will repay all of your unsecured debts in full over the life of your plan no discharge is necessary
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