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What is a chapter 13 bankruptcy?

Background A chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years.

How much does a chapter 13 bankruptcy cost?

A fee of $25 is charged for converting a case under chapter 13 to a case under chapter 7. Background A chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts.

Is Chapter 13 a wage earner's bankruptcy?

Chapter 13 is sometimes called the Wage Earner’s Bankruptcy, and for good reason. Chapter 13 is bankruptcy for people who are making money but have fallen desperately behind trying to keep up with payments for things bought on credit. Your debts are reorganized, and a program is set up to pay them.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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