The law currently provides that a Ch 13 must be complete in no more than 60 months.
You also have to dedicate 90 percent of your income after exemptions, to pay the bankruptcy plan.
THE SOLE purpose of this bill is to force more people into Ch 13's in the HOPES of getting a few pennies more for the unsecured creditors. (remember the secured creditors are SECURED).
The irony is that lawyers will make MORE money from a Ch 13 than a Ch 7.
Well it is good to know there is a five year limit. What happens after that? Are the debts THEN discharged?