Site: alllaw.com
... By contrast, you’ll repay your creditors some of what you owe in Chapter 13. ... You also get to keep all of your property. ... If you have a car loan, the exemption amount only needs to protect the amount of equity you have in it ... So if you have a car worth $15,000, but you owe $10,000, then you only have $5,000 of equity in the vehicle ... In Chapter 13, you’d keep the car, but you’d pay your creditors an amount equal to the unprotected ...