If you’re trying to make sense of bankruptcy jargon and hoping to understand the differences between the different types of bankruptcies, particularly Chapter 7 and Chapter 13, you’ll want to read on.

Discover who qualifies for each, what you keep, what it costs, and how each one affects your home and your credit score.

In the 12 months ending June 30, 2026, Americans filed 608,511 bankruptcy cases, up 12.2% from the year before, according to the Administrative Office of the U.S. Courts. Roughly 96% of those cases ...