When is chapter 13 preferable over a chapter 7?
Chapter 13 is usually preferable for a person who: a. wishes to repay all or most of his or her unsecured debts and has the income with which to do so within a reasonable time, b. has valuable nonexempt property or has valuable exempt property securing debts, either of which would be lost in a Chapter 7, c. has sufficient assets with which to pay most debts, but needs temporary relief from creditors in order to do so.
