Is chapter 11 bankruptcy only for business uses? What types of bankruptcy are for personal debts?

Chapter 11 is for businesses. If you are an individual you would file under chapter 7 or chapter 13. But if you are an individual that owns a business, chapter 11 might be more appropriate.

This website has a section on chapter 11 bankruptcy and you can check out whether it applies to you. If not, there are links on the site that help to explain what your options might be.

If you are facing bankruptcy I do recommend that you consult an attorney because the law is complex and mistakes can be expensive. The website has links where you can find a qualified attorney in your area for an initial free consulation.

I hope this helps. Good luck!

http://www.uscourts.gov/bankruptcycourts... has everything you ever wanted to know about bankruptcy and then some. Ch 11 generally is for corporations or partnerships.

Hi. Depending on your situation, any of the three bankruptcy chapter may be applicable to you. A Ch. 11 is typically for companies however if an individual has more than $250,000.00 in debt, if he is reorganizing the debt, ie repayment plan, then he is required to file a Ch. 11. A ch. 13 is typically used if there are arrearages on a mortgage or automobile as those arrearages are placed in your Ch. 13 plan which you pay funds to a trustee who in turns sends the funds to those creditors. A ch. 7 is you want to "erase" debt without any repayments schedules. If there is secured, ie, home or vehicle, debt, then you need to be current and have to continue to make payments to retain the property.