What are the various types of bankruptcy?
You should look into the following types of bankruptcy cases: Chapter 7 bankruptcy is also known as “liquidation” because property is sold to pay creditors, subject to certain limitations. Chapter 11 bankruptcy is often used by individuals and businesses who are struggling with extremely large amounts of debt, it is also referred to as “reorganization.” Chapter 13 is also known as “debt adjustment” because it adjusts the debt and works out a payment plan for the debtor based on his or her current income. For more information, visit our bankruptcy page.
