Chapter 13 is much more complicated than chapter 7. In short, chapter 13 is a debt reorganization and repayment plan. Mostly it is for those who would like to keep assets that would be taken from them if they file a chapter 7 case, or those whose income is too high to qualify for chapter 7. The chapter 13 debtor must have a regular source of income.
Copyright © 2021, The Law Offices of Rob R. Nichols. All Rights Reserved.