Chapter 13

Advantages of Chapter 13:

1. Force IRS in repayment plan stopping interest.
2. Protect property that would be taken in a Chapter 7 case.
3. Lower payment on car loans.
4. Stops foreclosure and get 3-5 years to catch up on home loans.
5. Protects cosigners.
6. Can get protection from creditors whose debts would not be eliminated in Chapter 7. (Examples: taxes, fraud claims, child and spousal support arreras and student loans)

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