Chapter 13 is a reorganization chapter. This means that your debts are consolidated and paid through a monthly payment plan lasting between 3 and 5 years. This chapter is ideal for those who have defaulted on their mortgage or car payments but want to keep these assets and stop foreclosure or repossession. This chapter is also ideal for those who would benefit from bankruptcy but do not quality for chapter 7 because their gross monthly income exceeds the median set by law.