Chapter 13

What is Chapter 13?

Chapter 13 is one of legal terms that means The chapter of the Bankruptcy Code providing for the adjustment of debts of an individual with regular income, often referred to as a ‘wage-earner’ plan. Chapter 13 allows a debtor to keep property and use his or her disposable income to pay debts over time, usually three to five years.

 

source: uscourts.gov/glossary

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