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• Bankruptcy Information
• Chapter 7
• Chapter 11
• Chapter 12
• Chapter 13
• Discharge in Bankruptcy
• Means Test
• Bankruptcy Basics
• Terminology

Bankruptcy Information

• Chapter 7 - Liquidation
  The chapter of the Bankruptcy Code providing for "liquidation," i.e., the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors. Lawyers sometimes refer to it as a "straight bankruptcy."
  
  

• Chapter 11 - Reorganization
  A reorganization bankruptcy, usually involving a corporation or partnership. A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time.  People in business or individuals can also seek relief in chapter 11.
  
  

• Chapter 12 - Family Farmer
  The chapter of the Bankruptcy Code providing for adjustment of debt of a "family farmer."
  
  

• Chapter 13 - Individual Debt Adjustment
  The chapter of the Bankruptcy Code providing for adjustment of debts of an individual with regular income.  Chapter 13 allows a debtor to keep property and pay debts over time, usually three to five years.
  
  

• Discharge in Bankruptcy
  A release of a debtor from personal liability for certain dischargeable debts.
  
  

• Means Test
  One of the major changes brought about by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“Act”) was the implementation of a “means test” to be applied to chapter 7 & 13 cases for debtors whose incomes exceed the median income for their states.
  
  

• Bankruptcy Basics
  A Public Information Series of the Bankruptcy Judges Division designed to provide debtors, creditors, judiciary employees, and the general public with a basic explanation of bankruptcy and how it works.
  
  

• Terminology
  Explains many of the legal terms that are used in cases filed under the Bankruptcy Code.