Protection from creditors granted to individuals who legally file for bankruptcy, providing for repayment of debts by a court-approved plan.
Chapter 13 allows you to have debt forgiven after 36-60 months of contributions to your creditors. Your contribution payment is usually equal to the amount you have leftover after paying your monthly necessities. Each Chapter 13 debtor has a different payment because each monthly budget is different. You are not normally required to pay 100 % back to your creditors. You pay creditors based upon what is available to you after reasonable monthly expenses.