What Type of Bankruptcy Is Right for Me?

Chapter 7, 13, 11, 12, or 15 — or an alternative? A plain-English map to help you understand which bankruptcy option fits your situation.

It's not one-size-fits-all

People often think bankruptcy means Chapter 7 or Chapter 13, but there are several chapters, each built for a different situation. Matching the right one to your circumstances is exactly what an attorney does.

The two most common

Chapter 7 (liquidation) suits lower-income filers with mostly unsecured debt. Chapter 13 (repayment plan) suits steady incomes and people who want to keep a home or car while catching up.

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The specialized chapters

Chapter 11 is reorganization used mainly by businesses; Chapter 12 is tailored to family farmers and fishermen; Chapter 15 handles cross-border insolvency involving more than one country.

Before you file at all

Sometimes the best option isn't bankruptcy — debt settlement or a management plan may fit smaller balances. A free review is the fastest way to see the whole map for your situation.

Key takeaway

People often think bankruptcy means Chapter 7 or Chapter 13, but there are several chapters, each built for a different situation. A free case review with a licensed attorney is the fastest way to know what applies to you.

Frequently asked

What's the difference between Chapter 7 and Chapter 13?

Chapter 7 can erase qualifying debt in months if you pass the means test; Chapter 13 is a 3-5 year repayment plan that helps you keep property.

Which bankruptcy chapter is most common for individuals?

Chapters 7 and 13 cover most consumer cases; 11, 12, and 15 serve businesses, farmers/fishermen, and cross-border situations.

General legal information for educational purposes only — not legal advice, and no attorney-client relationship is created. Laws vary by state and change over time; confirm details with a licensed attorney in your state.