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Chapter 13
A type of bankruptcy in the United States that allows individuals with regular income to develop a plan to repay all or part of their debts under court supervision.
Debtor's Total Obligations
This encompasses all debts and financial commitments that a debtor is responsible for repaying, including loans, bills, and other liabilities.
Chapter 13
Chapter 13 refers to a bankruptcy chapter under the U.S. Bankruptcy Code that allows individuals with a regular income to develop a plan to repay all or part of their debts under court supervision.
Debtor Retains Possession
A situation in which an individual or entity that owes money is allowed to keep possession of the collateral or property tied to the debt.
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