The Michigan Chapter 13 Plan (Model Plan) is a debt repayment plan that allows individuals with regular income to pay off their debts over a three to five-year period. This plan enables individuals to reorganize their debts in order to make them more manageable and ultimately reduce the amount owed. This type of bankruptcy is often referred to as a “wage earner” bankruptcy or a “personal reorganization plan.” The Michigan Chapter 13 Plan (Model Plan) is a type of debt repayment plan that is administered by the United States Bankruptcy Court. The plan allows individuals to keep their property and assets while making monthly payments to creditors. The repayment period is typically three to five years and the amount of monthly payments is determined by the debtor’s income and expenses. All creditors must be included in the plan, and they must receive at least the amount they would receive if the debtor filed for Chapter 7 bankruptcy. The two types of Michigan Chapter 13 Plan (Model Plan) are the Standard Plan and the Customized Plan. The Standard Plan is the most commonly used plan, and it allows individuals to make regular monthly payments to their creditors. The Customized Plan is designed for individuals who have special circumstances and needs, such as large amounts of non-dischargeable debt or other unique financial situations. This plan allows for more flexibility in the payment amount and the length of the repayment period. No matter which type of plan is chosen, the debtor must attend credit counseling and debtor education classes prior to filing for the Michigan Chapter 13 Plan (Model Plan). Additionally, the debtor is required to meet with the trustee assigned to their case and provide all necessary documents for review. Once approved, the repayment plan must be followed in order for the individual to obtain a discharge of their debts.