What are the different types of bankruptcy?
Answered By Editor
There are four main types of bankruptcies.
Depending on the need of the debtor(s) or the
type of business owned will decide which type
of bankruptcy is filed. Below are the four
main types and who typically files:
* Chapter 7 bankruptcy is generally for
individuals and married couples.
* Chapter 11 is typically for business owners.
* Chapter 12 is for family farmers with debt
problems.
* Chapter 13 is for individuals and married
couples who desire to reorganize their debts.
keywords: Bankruptcy | Bankrupt | Creditors | Debt | Debt Relief | Chapter 7 | Chapter 11 | Chapter 12 | Chapter 13
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