When filing for personal bankruptcy. A person is more likely to file for Chapter 13 rather than Chapter 7 if the debtor's income is:

Question

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Chapter 13 bankruptcy is often chosen by debtors whose income is higher than the state median or average income because it allows them to keep their property and pay back debts over time, whereas Chapter 7 involves liquidating assets to pay off debts and may be more accessible to those with lower income.

When Filing for Personal Bankruptcy