Chapter 7 Bankruptcy
A Chapter 7 bankruptcy is the most frequently filed bankruptcy in the United States. Individuals who are unable to pay their bills can file and essentially walk away from their debts to receive a fresh start. Businesses can also file for Chapter 7 bankruptcy to liquidate or terminate their operations. Learn more about Chapter 7 bankruptcy here.

Chapter 13 Bankruptcy
Chapter 13 is one of the most important bankruptcies with one of the best benefits that the bankruptcy code can provide to you. Under a Chapter 13 bankruptcy, you will be able to keep your property, but will have to prepare a payment plan to repay all or some of your debts within a 3 to 5 year period. Essentially, you will be reorganizing your debt. Learn more about Chapter 13 bankruptcy here.