For some people, a Chapter 7 bankruptcy either isn't available or isn't the best option. Chapter 13 offers some substantial benefits for people in certain situations. Chapter 13 bankruptcies include repayment of some or all the debts in their name, in better terms, with lower or no interest. Payments are made to the trustee over a period of three to five years. Unlike Chapter 7 which involves liquidation of assets, this process involves restructuring debts which allows the debtor to use whatever income they may have in the future to pay off the creditors. Filing Chapter 13 Bankruptcy is thus applicable for a debtor who has a regular income, and thus can afford to request for such adjustments or reductions. While debtors are often allowed to keep all of their property, the court approves a new payment plan for repayment. Biddle Law Firm will prepares the Chapter 13 repayment plan taking into consideration several factors. The one advantage of Chapter 13 over Chapter 7 bankruptcy, is that more debts may be discharged. For example, if a debtor manages to complete all necessary payments in the plan, certain taxes can be discharged, a second mortgage may be stripped off, car loans can be reduced and will be paid in full once your plan is complete. Another advantage of the Chapter 13 filing is that a repayment plan can be approved even if creditors disagree with it, as long as it is approved by the Court. The court does allow creditors to file objections to any proposed Plan, though, and the objections must be resolved either outside of litigation or by litigating the objection before the judge.