Bankruptcy:    Chapter 7,     Chapter 13 (Bill Consolidation),    Chapter 11

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Chapter 7
Chapter 11
Chapter 13
Exemptions

For more details on Chapters 7, 11, and 13; click on the chapter buttons to the left.  The following list gives very general definitions of the available chapters:

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Chapter 7 Bankruptcy applies to a wide variety of individuals and businesses.

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Chapter 13 is sometimes referred to as "Bill Consolidation."  This chapter is usually used by individuals or small businesses.  Neither a business that has been incorporated nor a partnership can file a Chapter 13 Bankruptcy.

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Chapter 12 Bankruptcy applies only to farmers and ranchers.

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Chapter 11 Bankruptcy usually applies only to larger businesses (whether owned by a partnership, a corporation, or an individual).

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Chapter 9 Bankruptcy applies only to municipalities.

 


Copyright 2006 Merv Waage