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Bankruptcy Beyond Chapters 7 and 13

This article was prepared by Legal Aid of Northwest Texas and contains material from other resources as well. It contains a general overview of certain aspects of bankruptcy and is not a substitute for direct representation by an attorney.

What other types of bankruptcy are there?

Chapter 12

Chapter 12 is a reorganization plan for farmers and fishermen—that is, people who make their living from farming or fishing. It is similar to Chapter 13.

Chapter 11

Debtors who have more than $394,725 in unsecured debt or $1,184,200 in secured debt cannot file under Chapter 13. They must file under Chapter 11.

Chapter 11 is more complicated than Chapter 13. It requires dividing your creditors into classes, then trying to get enough creditors to vote to confirm your plan of reorganization. Both Chapter 7 and Chapter 11 can be used by people or companies.

Chapter 12 and Chapter 13 are only for individuals (a person or a married couple).