Which Chapter corresponds to Individual in the four types of bankruptcy?

• A. Chapter 7 Liquidation
• B. Chapter 11 Business
• C. Chapter 12 Farmland
• D. Chapter 13 Individual

Answer: (D)

Chapter 13 is the bankruptcy option for individuals with a regular income who want to repay a portion of their debts through a court-approved plan. The plan typically runs three to five years and allows the debtor to keep their property while catching up on missed payments on secured debts, such as a mortgage or car loan. This setup is specifically designed for individuals, distinguishing it from other chapters: liquidation-focused Chapter 7; business-focused Chapter 11 for reorganization; and Chapter 12, which is tailored to family farmers or fishermen. So the option that corresponds to the individual category is Chapter 13.