In a large skillet, cook beef, onion and green pepper over medium high heat until meat is no longer pink; drain. Stir in chili sauce, water, mustard, ketchup, chili powder, salt and pepper. Simmer on low for 30 minutes to 1 hour or until heated through. Or transfer meat mixture to a slow cooker.

Cover and cook on low for 4 to 6 hours or until flavors are blended.

Serve on hamburger buns or with potato chips.