Chapter 13 bankruptcy

Definition of "Chapter 13 bankruptcy"
  1. A form of consumer bankruptcy allowing debtors to keep their property while repaying creditors through a three-to-five-year monthly repayment plan, with any remaining certain types of debts erased after this period
How to use "Chapter 13 bankruptcy" in a sentence
  1. She managed to keep her house after filing for Chapter 13 bankruptcy and adhering to the repayment plan.
  2. After losing his job, he was able to manage his debts by opting for Chapter 13 bankruptcy.
  3. Chapter 13 bankruptcy gave him a chance to repay his debts over time while holding onto his property.

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