Types of deposits in bankruptcy

There are six types of bankruptcy USA, although it is important to remember that there are 7 cancellation of debt or restructuring the debts of Chapter 13 in the majority of cases to the chapter. Companies, individuals and even towns and cities have the right to file bankruptcy under federal law. However, it is important to remember, will apply each bankruptcy as a last resort when all other efforts to failed out of debt. 7Chapter Chapter 7 can be declared by companies and individuals. It's basically forgive almost all debts. However, this usually includes business and in events, as for example loss is individuals.Chapter 13Chapter 13 House for those who have a reliable income and some of their debt to repay placing under judicial supervision. Assets can be stored in these 11 bankruptcy can be done by wealthy individuals cases.Chapter 11Chapter but it is restricted to companies in General. This is similar to the chapter 13 allows you to reorganize businesses and try to your debts.Chapter 9Chapter repay resembles chapters 11 and 13 of Chapter 9, but applies to municipalities requiring restructuring. Orange County, California, is famous for declaring of Chapter 9 in 1994.Chapter 12Chapter 12 is reserved for a family of farmers and fishermen. It allows you to restructure your debt, while keeping the busiest that allows case.Chapter 15Chapter in a chapter 7 bankruptcy would be 15 companies with interests in several countries used hardly ever by companies, because it deals with the jurisdiction when it comes,. It allows for debt restructuring.