Chapter 7 Bankruptcy

Bankruptcy | Purpose | Proceedings | Chapter 7  | Chapter 11 | Chapter 12  | Chapter 13  | Abuse and Fraud

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Liquidation under Chapter 7 of the Bankruptcy Code is the most common form of bankruptcy in the United States.

Bankruptcy filings by individuals:

* Chapter 7 filings: 1,156,284
* Chapter 11 filings: 959
* Chapter 13 filings: 468,562

Bankruptcy filings by businesses:

* Chapter 7 filings: 21,008
* Chapter 11 filings: 9,185
* Chapter 12 filings: 698
* Chapter 13 filings: 5,201

The total number of bankruptcies rose 7.4 percent over the previous twelve months. These totals were for the 12-month period ending September 30, 2003.