Chapter 11 bankruptcy is designed for businesses and individuals with large debts who want to reorganize their finances and continue operating.

In Chapter 7 bankruptcy, the debtor's nonexempt property is sold and the proceeds are distributed to creditors.

Chapter 13 bankruptcy allows individuals to create a repayment plan to pay off their debts over a period of time, typically 3 to 5 years.

Chapter 12 bankruptcy is specifically designed for family farmers and fishermen who are experiencing financial difficulties.

The bankruptcy trustee is responsible for overseeing the liquidation of the debtor's nonexempt property and distributing the proceeds to creditors.

A discharge in bankruptcy releases the debtor from personal liability for most unsecured debts, such as credit card debt and medical bills.

Individuals who have previously filed for bankruptcy under Chapter 7 must wait 8 years before they can file again under Chapter 7 or Chapter 13.

The eligibility limits for Chapter 7 bankruptcy are based on the debtor's total unsecured debt, which includes credit card debt, medical bills, and personal loans.

Chapter 13 bankruptcy allows individuals to propose a plan to repay their debts over time, including secured debts such as mortgages and car loans.

A reaffirmation agreement is a contract between the debtor and a creditor in which the debtor agrees to repay a secured debt that would otherwise be discharged in bankruptcy.

The means test is used to assess the debtor's income and expenses to determine if they are eligible to file for Chapter 7 bankruptcy.

The bankruptcy court has a variety of roles in a bankruptcy case, including approving or denying the debtor's petition, overseeing the administration of the bankruptcy estate, determining the amount of debt that can be discharged, and providing legal advice to the debtor.

In Chapter 11 bankruptcy, the debtor's business can continue operating under the supervision of a bankruptcy trustee, who is appointed by the court to oversee the reorganization process.

A secured debt is a loan that is backed by collateral, such as a house or a car. An unsecured debt is a loan that is not backed by collateral.