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Chapter 13 Archives

Former Lt. Gov. and wife file for Chapter 13 bankruptcy relief

The former Lieutenant Governor of Arkansas, Mark Darr and his wife, Kimberly, have filed for Chapter 13 bankruptcy. Chapter 13 is a bankruptcy for wage earners with regular income who want to pay part or all of their outstanding bills pursuant to a three to five-year payment plan. This type of bankruptcy is used mostly by consumers to try and keep their homes by getting their defaulted mortgages back up to date.