Chapter 13 bankruptcy is less desirable for the debtor, since it requires debt repayment from the debtor's future income.

Question

Quizplus · Accepted Answer

This statement is true. In Chapter 13 bankruptcy, the debtor must create and follow a repayment plan that involves using a portion of their future income to pay off their debts over a period of three to five years. This is in contrast to Chapter 7 bankruptcy, which typically results in the discharge of most of the debtor's debts without requiring repayment.

Chapter 13 Bankruptcy Is Less Desirable for the Debtor, Since