A Chapter 13 bankruptcy enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter of the law, debtors propose a repayment plan to make installments to creditors over three to five years. In no case may a plan provide for payments over a period longer than five years. For more information on Chapter 13 bankruptcy, see www.uscourts.gov/bankruptcycourts/bankruptcybasics/chapter13.html.
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