For many individuals, mere mention of filing for bankruptcy protection under a Chapter 13 individual debt reorganization is met with apprehension and resistance. We blame this on the many myths and misconceptions associated with bankruptcy in general, as perpetuated by corporate creditors and the media. In truth, Chapter 13 is the best way out of debt for many of those consumers who choose to keep as many of their nonexempt assets as is lawfully feasible.

In this article from our Arizona Bankruptcy Essentials series, we discuss three components of the Chapter 13 bankruptcy filing, making it an appealing option for wage-earning debtors who need debt relief and desire a fresh financial start...