The most popular that I know if Chapter 11 which is rehabilitation or reorganization, used primarily by business debtors, but sometimes by individuals with substantial debts and assets. Chapter 12 is rehabilitation for family farmers and fishermen and Chapter 13 is rehabilitation with a payment plan for individuals with a regular source of income.
Chapter 7 is basic liquidation for individuals and businesses; Chapter 9 is municipal bankruptcy;
Chapter 15 is ancillary and other international cases.
That is the intent of all Chapters.
As there are different chapters of bankruptcy, a bankruptcy attorney may be more familiar in handling certain chapters. These chapters include Chapter 7, Chapter 11, and Chapter 13. There attorneys that can advise you which chapter to file for and then help in handling the entire process, while others simply consult without providing execution. It is best to contact attorneys directly, to find out what services they provide.
You can file bankruptcy for two possible reasons: you are unable to pay your debts or your creditors file for bankruptcy if you owe them more than 1000 dollars.
Bankruptcy is Federal law and court thing. The State of the bankrupt only allows some options, really most intended to conform the Federal definitons used to those locally. There are many different chapters of BK, for different things...C-7 and C-13 are the main ones available to individuals.
Becuase the various types of BKs are broken down into chapters in the BK code
Use this FREE ""Do it Yourself"" Bankruptcy Site to see filing bankruptcy is the right solution for solving your personal debt problems.Filing bankruptcy is perhaps the most difficult decision you'll ever make! I'm sure you have many questions about filing bankruptcy. Questions like, ""Am I qualified to file bankruptcy"" , ""How hard is it to file on my own bankruptcy"", ""How much does it cost"" and the most important question of all; ""Can I file my own bankruptcy without an attorney?"" Get answers to these questions and over 40 more with our in-depth FAQs. Select the bankruptcy chapters' links on the left.
13 chapters
it has 26 chapters
14 chapters
36 chapters.
55 Chapters
52 chapters