What Type of Bankruptcy is Right for You?
There are 3 main types, or chapters, of bankruptcy. They are:
Chapter 7 bankruptcy is often referred to as liquidation bankruptcy and is the most common chapter of bankruptcy that is filed.
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Chapter 11 bankruptcy is used for business reorganizations. Higgins & Associates is a personal, consumer bankruptcy law firm and as such, does not file Chapter 11 cases.
Chapter 13 bankruptcy offers the debtor that does have regular income a means to repay debts on better terms. Chapter 13 bankruptcy also offers a full discharge option.
More on Chapter 13 Bankruptcy