Chapter 13 bankruptcy, often called 'reorganization bankruptcy,' allows individuals with regular income to create a court-approved repayment plan to pay back all or a portion of their debts over 3–5 years, rather than liquidating assets. It's often preferred over Chapter 7 by people who want to keep secured assets like a home or car, or who have income too high to qualify for Chapter 7. Upon successful completion of the repayment plan, remaining eligible unsecured debts may be discharged. Chapter 13 stays on your credit report for 7 years.