What is a Chapter 7 bankruptcy?
Chapter 7 is the liquidation chapter of the Bankruptcy Code. Chapter 7 cases are commonly referred to as straight bankruptcy or liquidation cases, and may be filed by an individual, corporation, …
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What Is A Chapter 11 Bankruptcy?
Chapter 11 is the reorganization chapter available to businesses and individuals that have substantial assets and/or income to restructure and repay their debts. Creditors vote on whether to accept …
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What Is A Chapter 13 Bankruptcy?
Chapter 13 is the debt repayment chapter for individuals with regular income whose debts do not exceed $1,000,000 ($250,000 in unsecured debts and $750,000 in secured debts), including individuals …
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What Is A Chapter 12 Bankruptcy?
Chapter 12 offers bankruptcy relief to those who qualify as family farmers. There are debt limitations for Chapter 12, and a certain portion of the debtor`s income must come from the operation of a …
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What Is A Chapter 9 Bankruptcy?
Chapter 9 is only for municipalities and governmental units, such as schools, water districts, some utility companies and other similar organizations.
