
Filing bankruptcy is not something that most people want to do, but there comes a time given the tough economy that Americans are currently experiencing, where an individual's credit card debt and mortgage payments get so far behind that bankruptcy is the only way out. With the mortgage meltdown in full swing and job loss numbers at an all time high, many people will be forced into filing Chapter 7 bankruptcy. But what if the debtor is still employed and wants to keep their property and their home? Filing Chapter 7 may put the debtor in danger of losing their property which scares many people away from filing in the first place. Chapter 13 bankruptcy is for individuals just like this. Chapter 13 bankruptcy is called the "wage earners bankruptcy". It was designed for people who are still employed, but have large amounts of debt that they are struggling to pay....