Chapter 11
Chapter 11 bankruptcy is generally used to reorganize a business, although individuals are also eligible. This type of bankruptcy allows a business to continue operating while repaying creditors through a court-approved plan.

Chapter 13
If you have a regular income, Chapter 13 bankruptcy provides a method for repaying your debt over a period of time, according to a court-approved plan. The period of time allowed ranges from three to five years. Generally, only an individual with unsecured debts of less than $270,000 and secured debts of less than $800,000 is eligible.  

To file Chapter 13, you must file the appropriate schedules and petitions with the bankruptcy court and pay the filing fee. You must also file a proposed plan of repayment with your original petition or within the next 15 days. A trustee will be appointed to supervise your performance, to make regular payments to your creditors and to provide the court and other parties with information about your finances.

Nondischargeable Debts
Certain debts cannot be discharged through a bankruptcy proceeding. These include certain taxes, alimony and child support, student loans and some property settlements. Other nondischargeable debts result from fraud, willful or malicious injury, certain fines or penalties, and claims incurred from driving under the influence of alcohol or drugs.