The Bankruptcy Code Of The United States

  • The Bankruptcy Code Of The United States

The Bankruptcy Code Of The United States

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Filing for bankruptcy helps the filer by either getting a discharge from most of their debts or by helping them devise a repayment plan to catch up with all the arrears. Bankruptcy can be filed by an individual, a couple, a business, or any such entity.

All bankruptcy-related cases are handled by the federal courts, which they abide by, by following the US bankruptcy codes. The different types of bankruptcy include –

  • Chapter 7 and chapter 13 – Individuals can file for bankruptcy under this chapter
  • Chapter 9 – Municipalities like city, towns, schools, taxing districts
  • Chapter 7 and Chapter 11 – Businesses may file under these chapters for liquidation and reorganization
  • Chapter 12 – provides relief to farmers and fishermen
  • Chapter 15 – a case that involves the filing parties from more than one country.

To correctly interpret the bankruptcy codes, it is highly recommended to hire a professional who can guide you based on their experience. Since bankruptcy is a very complicated domain and any mistake in filing can end up being detrimental in your favor. To get in touch with the best in your area, log on to – or call on 888-297-6203