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One type of bankruptcy proceeding is filing Chapter 13 bankruptcy. This type of bankruptcy is termed "wager-earners" bankrtupcy because it is dependent upon the individual or corporation having a regular steady income. If you have too much disposable income or you have assets that you would like to protect, then chapter 13 bankruptcy may be the route for you to go. Chapter 13 bankruptcy is a type of repayment plan to eliminate the stress of immediate repayment to creditors, spreading the payback out over two to five years. This form of bankruptcy will put a nearly immediate end to creditors calling the household or business as well.