You must decide which chapter of the Bankruptcy Code will best suit your needs. The decision to file bankruptcy and under which chapter depends on the particular circumstances of the debtor. In general chapter 7 is appropriate when the debtor has insufficient income to pay all or most of his/her debts. Otherwise, if the debtor has income or property and can afford to pay all or a substantial portion of his/her debts, chapter 11, 12 or 13 may be appropriate and depending on whether the debtor is an individual, partnership, corporation or family farmer.



The decision to file a bankruptcy case and under what chapter is extremely important and should be made only with competent legal advice from an experienced bankruptcy attorney.