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Chapter 13
Chapter 13 bankruptcy is a reorganization and repayment plan that protects the debtor from collection action including forclosures, repossesions, and garnishments during a case and discharges any unpaid balance of dischargeable debts at the end of the plan.
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Chapter 13 allows the debtor time to pay debts that can't be discharged, like recent taxes or back child support; to cure defaults on home mortgages; and to eliminate that part of a lien that is greater than the value of the assets.
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Unlike credit management plans outside of bankruptcy, creditors don't get to choose whether to be bound by the plan or what percentage of the debt will be discharged.
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