There are several types of bankruptcy; the two kinds most commonly filed by individuals are chapter 7 and chapter 13 bankruptcies. If you feel as though you are drowning in debt and need some relief a bankruptcy may be the right way to go. The type of bankruptcy you file will depend on your asset value and how much income your household has. If this is something you are considering, then please consult with us before you hire a non-lawyer debt consolidation firm to assist you.