Chapter 13 bankruptcy: This type of case is called "repayment" bankruptcy. You will be required to repay a portion of your debts in return for keeping all of your property. Chapter 13 is most commonly used by people who do not qualify for Chapter 7 or who want to use the federal laws to repay debts such as past-due mortgage and car loan payments over time in order to save their home or automobile. Chapter 13 payment plans last 3-5 years depending on your household income, property and debt levels.
