The chapter of the Bankruptcy Code providing for adjustment of debts of an individual with regular income is known as Chapter 13 bankruptcy. Chapter 13 allows a debtor to keep property and pay debts over time, usually three to five years. [...]
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Federal bankruptcy law is designed to provide protection from creditors. The purpose of Chapter 7 and Chapter 13 of the bankruptcy code is to provide consumers with a fresh start by freeing them from burdensome debt. [...] |
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