There are several differnt chapters of bankruptcy. They can range from Chapter 13, Chaper 11, Chapter 7. Consult a lawyer to figure out which is best for you.
They are Chapters 7 and 11 and 13. Chapter 7 is a complete liquidation bankruptcy. Chapter 11 is a reoranization business bankruptcy. Chapter 13 is a debt repayment plan bankruptcy.
Chapter 7 is straight bankruptcy.
Chapter 9 for a municipality.
Chapter 11 for business reorganization.
Chapter 12 for family farmers.
Chapter 13 for individuals or consumers.
Liquidation is the most common type of bankruptcy,secured creditors and secured debts,Family farmers take advantage of this simplified modification,reorganization proceeding to consider.
