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What is Chapter 13 Bankruptcy

Chapter 13 bankruptcy is also called debt consolidation, and it can be a good option for those with regular income who are having trouble keeping up with the regular monthly payments, facing foreclosure, or for those who owe significant past tax debt. A chapter 13 bankruptcy stops a foreclosure and wage garnishment immediately and can allow debtors to spread out mortgage arrears over 5 years which avoids a foreclosure.

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