The most common reason for filing a chapter 13 bankruptcy is to save your home from foreclosure. The next reason is because you don’t qualify for Chapter 7. It could be because that you have have income that is sufficient to pay some of your debt, perhaps not all of it, or because you have assets that exceed the amount that can be protected in a chapter 7 bankruptcy. For these consumers, paying little bit of their debt enables you in a chapter 13 to keep all of your property.
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