Chapters 7, 11 and 13 of the bankruptcy code are the types of bankruptcy consumers may file. Consumer bankruptcies are rarely filed under Chapter 11 because of the specific assets/debts required for that chapter. Chapter 7 allows for the liquidation of debts while Chapter 13 allows bankrupt consumers to set up a payment plan with their creditors from 3-5 years.

Click here to find Consumer Bankruptcy Attorneys near you.