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These are the most common types of bankruptcy chapters
7 and 13
bankruptcy
debtor
Creditor
1934
Voluntary bankruptcy
discharge
Litigant
A lender or company that has lent money or issued credit
7 and 13
bankruptcy
debtor
Creditor
1934
Voluntary bankruptcy
discharge
Litigant
Stays on your credit report for 10 years
7 and 13
bankruptcy
debtor
Creditor
1934
Voluntary bankruptcy
discharge
Litigant
A party in a lawsuit
7 and 13
bankruptcy
debtor
Creditor
1934
Voluntary bankruptcy
discharge
Litigant
Someone who has borrowed money
7 and 13
bankruptcy
debtor
Creditor
1934
Voluntary bankruptcy
discharge
Litigant
Congress enacted federal bankruptcy laws
7 and 13
bankruptcy
debtor
Creditor
1934
Voluntary bankruptcy
discharge
Litigant
Action the court takes to wipe out a debtor's debts
7 and 13
bankruptcy
debtor
Creditor
1934
Voluntary bankruptcy
discharge
Litigant
A debtor files a petition of bankruptcy
7 and 13
bankruptcy
debtor
Creditor
1934
Voluntary bankruptcy
discharge
Litigant
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