Commonly known as the “wage earner’s plan,” Chapter 13 offers debtors several advantages over other bankruptcy chapters ― primarily by allowing them to retain possession of high-value assets. This type of bankruptcy filing provides debtors earning a steady income with the opportunity to develop a total or partial debt repayment plan via installments spread out over a three- to five-year period. Benefits of Chapter 13 Bankruptcy Chapter 13’s numerous benefits include: Halts fo