Chapter 13
noun[U]
ukusLAW,FINANCE
apartof the USlawdealingwithbankruptcy,in which aplanis made forcollectingthemoneythat apersonorcompanywillearnin thefutureso that it can be used topaybackdebtsto thepeoplewho areowedmoney:
They took thedecisiontofileforchapter13bankruptcy.
Chapter13bankruptcycanhelpdebtorssavetheirhomes.