A Chapter 13 bankruptcy is a "re-organization" of your debts, which involves combining all your debts and setting up a repayment plan to repay a portion of your debts over a period of time, usually either three or five years.  In a Chapter 13 filing, the court will review your income, determine your allowed monthly expenses and set a repayment plan to make one monthly payment to the bankruptcy trustee to repay your creditors.  Often the portion you repay may end up being just pennies per dollar of debt.  Chapter 13 can be your best or only option if you are behind on your mortgage payments and want to save your home.  Any overdue mortgage payments can be made part of the plan approved by the court, and your lender can be forced to accept the plan the court approves.  With a Chapter 13 filing you generally will not lose any assets or property, because you are paying your creditors with future income during the plan.  This can be very helpful if you have assets that would otherwise be non-exempt, or if your income is too high to allow you to file under Chapter 7.  In addition, you can choose to give up secured property such as a car, a boat or even a home if you owe far more on that asset than it is now worth.