Chapter 13 Chapter 13 is often called a “wage earner plan” and is available to individuals with regular income. In Chapter 13, the debtor makes a fixed monthly payment to the Chapter 13 Trustee who distributes money to the debtor’s creditors. Unlike Chapter 7, in exchange for making monthly payments, the debtor may retain possession of his assets and will receive a discharge at conclusion of the plan (3 to 5 years).
Read More...