What are the most common forms of consumer bankruptcy?
There are four types of bankruptcy that are available to individuals, depending upon their specific circumstances. The most common forms of consumer bankruptcy are Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. A Chapter 7 Bankruptcy is a discharge of debts and a Chapter 13 Bankruptcy is a payment plan. A Chapter 11 Bankruptcy is a business reorganization and a Chapter 12 Bankruptcy is a bankruptcy specifically for family farmers.
