The debtor in a Chapter 13 proceeding can keep more property than under a Chapter 7 proceeding.

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In a Chapter 13 proceeding, the debtor establishes a repayment plan to pay off creditors over three to five years. As a result, they can keep more property than in a Chapter 7 proceeding, which involves liquidating assets to pay off creditors. However, the debtor's disposable income determines their repayment plan's amount, so they may still have to give up some property or assets to satisfy their debts.

The Debtor in a Chapter 13 Proceeding Can Keep More