Chapter 13 bankruptcy is available for anyone who cannot qualify for a Chapter 7 or whose property situation makes filing under Chapter 13 the better alternative. Chapter 13 is significantly different from Chapter 7 in that a Chapter 13 involves a reorganization of debt as opposed to straight discharge.
In Chapter 13 a debtor will repay all or a portion of their debts via a court approved plan while their property and assets are protected from collection efforts by the creditors. The plan will normally last between 3 and 5 years at which time the unpaid portion of the unsecured debt may be discharged.
Although significantly more complicated than a Chapter 7 bankruptcy, Chapter 13 might be the right option for you. Contact the attorneys at Berg & Chmielewski, PC so we can evaluate your situation and discuss the different options.