What are the different types of bankruptcy? There are four different types of bankruptcy: Chapter 7 and Chapter 13 are used by individuals
who are struggling financially Chapter 11 bankruptcy is used by businesses
that are struggling financially, and in some rare cases by individuals Chapter 12 is an option for farmers Chapter 7 bankruptcy is the most common type
of bankruptcy to come to mind when someone says they are filing and it results in the
discharge of all unsecured debts. Chapter 13, the second most common type filed
by individuals provides a means by which to repay debt over an extended period of time.