Chapter 13 bankruptcy offers a structured and manageable path to resolving
debts. It allows individuals to reorganize their debts into a manageable
repayment plan typically spanning three to five years. This plan is based
on your ability to pay, and it can often result in reduced monthly payments.
Chapter 13 can also halt foreclosure, giving you an opportunity to catch
up on mortgage arrears. Furthermore, it may enable you to discharge some
unsecured debts at the end of the plan. Overall, Chapter 13 provides a
structured framework for regaining control of your finances and achieving
debt resolution while protecting valuable assets.