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Why do people file a chapter 13 bankruptcy?
Generally, people file chapter 13 if they have valuable
property not covered by an exemption, like a home or car,
but want to keep this property. If a debtor is behind on
secured loan payments a chapter 13 bankruptcy can allow the
debtor to make up these payments over time while keeping
the home or car.
If you still have questions you can schedule a free consultation with a bankruptcy attorney.
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