To liquidate assets and distribute proceeds to creditors

To discharge debts and provide a fresh start

To reorganize debts and allow debtors to repay them over time

To stop creditors from contacting debtors

Individuals with regular income

Individuals with secured debts only

Individuals with unsecured debts only

Individuals with both secured and unsecured debts

File a petition with the bankruptcy court

Attend a meeting of creditors

Develop a repayment plan

All of the above

A plan that outlines how the debtor will repay their debts over time

A plan that outlines how the debtor will liquidate their assets

A plan that outlines how the debtor will discharge their debts

A plan that outlines how the debtor will stop creditors from contacting them

They are discharged

They are liquidated

They are reorganized

They are reaffirmed

They are discharged

They are liquidated

They are reorganized

They are reaffirmed

It allows debtors to keep their assets

It allows debtors to discharge their debts

It stops creditors from contacting debtors

All of the above

It can be expensive

It can take a long time

It can damage your credit score

All of the above

Chapter 7 bankruptcy

Chapter 11 bankruptcy

Debt consolidation

Credit counseling

Talk to a bankruptcy attorney

Do your own research

Ask your friends and family for advice

None of the above

Chapter 13 bankruptcy allows debtors to keep their assets, while Chapter 7 bankruptcy liquidates assets.

Chapter 13 bankruptcy is for individuals with regular income, while Chapter 7 bankruptcy is for individuals with no regular income.

Chapter 13 bankruptcy allows debtors to discharge their debts over time, while Chapter 7 bankruptcy discharges debts immediately.

All of the above

Chapter 13 bankruptcy is for individuals, while Chapter 11 bankruptcy is for businesses.

Chapter 13 bankruptcy allows debtors to keep their assets, while Chapter 11 bankruptcy may require debtors to sell assets.

Chapter 13 bankruptcy has a shorter repayment period than Chapter 11 bankruptcy.

All of the above

Chapter 13 bankruptcy is a legal proceeding, while debt consolidation is a private agreement between the debtor and their creditors.

Chapter 13 bankruptcy allows debtors to discharge their debts, while debt consolidation does not.

Chapter 13 bankruptcy can be more expensive than debt consolidation.

All of the above

Chapter 13 bankruptcy is a legal proceeding, while credit counseling is a non-legal service.

Chapter 13 bankruptcy allows debtors to discharge their debts, while credit counseling does not.

Chapter 13 bankruptcy can be more expensive than credit counseling.

All of the above