If your finances are in shambles, and you're at your wit's end, you may be ready to file bankruptcy. The bankruptcy code offers four different types of bankruptcy: Chapters 7, 11, 12 and 13. Chapter 7 is also known as “liquidation" or “straight bankruptcy," and is meant for those with large amounts of unsecured debt. Chapter 11 involves a “reorganization" of finances and is especially helpful for corporations in trouble. Chapter 12 bankruptcy is a special code for family farmers whose debts don't exceed one and a half million dollars. Chapter 13 bankruptcy, also known as “debt consolidation," generally allows the debtor to keep all property and establishes a debt repayment plan which must be approved by an attorney, the debtor, and a trustee. Consult an experienced attorney in your area for more information about your bankruptcy options.