types of bankruptcy
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6 Terms
1
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chapter 7
most common type of personal bankruptcy, can also be used by businesses
2
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chapter 13
used only by individuals, requires a 3-5 year repayment plan
3
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chapter 11
most commonly used by businesses, least common type of personal bankruptcy
4
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chapter 9
used by municipalities (city or town with corporate status and local government)
5
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chapter 12
used by family farmers and fisherman
6
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chapter 15
used by foreign debtors
Note 
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