Filing Bankruptcy or which Bankruptcy Chapter to File?
In determining which Chapter of Bankruptcy might be best for you to file, follow these links:
Filing for bankruptcy is a serious decision that should only be made after consulting with an experienced bankruptcy lawyer.
Everyone who is considering filing a bankruptcy case should first read the
Chapter 7 information regardless of what their circumstances are as it contains both general and specific information on debts that can be discharged and other information.
Chapter 7 is always an option to be considered.
If you are a consumer with relatively few assets and mostly unsecured debt (such as some credit cards), see the information under
Chapter 7 to help determine whether filing that chapter of bankruptcy is best (although you should only decide after having a comprehensive consultation with a qualified bankruptcy attorney).
If you have substantial assets (more assets than you think can be exempted) and you want to protect them; or, if you are behind on payments on a secured debt (such as your mortgage, car or other secured debt) and need time to catch up on your payments, you should see the information under
Chapter 13.
If you are a corporation or own your own business (dba or sole proprietorship), and you want to keep the business operating, you should examine the information in both
Chapter 13 and
Chapter 11.
Of course, before making any decision you should review all three choices and discuss them with an attorney, but your answers to the above questions should help to focus your analysis.
(common misspellings include: bankrupsy, bankruptsy, bankrupcy, bankrupsie, bancruptcy)Click for Additional Information and Frequently Asked Questions if:
