Many people assume that they do not qualify for bankruptcy relief because they make too much money. They also fear that they will “lose everything” they have worked so hard for all of their lives: art, heirloom jewelry, a whole life insurance policy with a cash value, a summer cottage up north, or a boat. I often counsel individuals who have enjoyed past success, but have been living with significant amounts of credit card debt for years. Eventually, due to a loss of income and/or rising expenses, they no longer are able to make ends meet and something has to give. This doesn’t mean, however, that they have to sacrifice their lifestyle, or any of the things they value and wish to keep for future generations. If you find yourself in such a circumstance, Chapter 13 bankruptcy may be a good option for you. It allows successful, income-earning individuals with valuable assets the ability to pay off their debts over five years. You may be able to consolidate all of your credit cards into one monthly payment without incurring any additional interest during the life of your repayment plan. After five years of payments, or, once all allowed claims are paid off (whichever occurs first), you can emerge from bankruptcy with no credit card debt, and with the ability to live life according to your terms.