At long
last, the end of the series!
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdKUNRrNYUltw7nnOkaSekVt2mAzmhCAi2Ka-YV0qNpMLeUM69KzCiLQ-2rO1uVdWLVRd2j4YBc_1OkErpRgBWcXCKB-luE3wUVeplRKavUSqwrSSCtB2TmiORCL29gfgvWyMDkzyT8Jw/s200/town-sign-96612_640.jpg)
The two
sections of the bankruptcy code that apply to personal bankruptcies are chapter
7 and chapter 13. As with business bankruptcies, chapter 7 for personal
bankruptcies is a process of liquidation and seeks include all non-exempt
assets of the petitioner in the bankruptcy estate in order to liquidate them to
pay off debts. Chapter 13, on the other hand, seeks to reorganize the debt of a
petitioner pursuant to a payment plan, which typically last from 3 to 5 years.