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About wage earner repayment plans

Chapter 13 bankruptcy, involves a consolidation of debt and an organized plan for creditor repayment. The federal bankruptcy court will appoint a trustee to review all your debts and assets. You must then propose a plan that schedules repayment to your creditors over a period of up to five years. In order to be eligible to file for Chapter 13 bankruptcy, you must be a professional with regular income, a wage­earner, or a small business owner, and your amount of debt can't exceed specific Chapter 13 law requirements. Consult an experienced attorney in your area for more information about Chapter 13 bankruptcy.

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Other Bankruptcy Audio Guides

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