Chapter 7 bankruptcy can offer several benefits for consumers facing overwhelming debt.

Chapter 11 bankruptcy is primarily designed for businesses, but individuals with substantial debts can also file for this type of bankruptcy under certain circumstances.

Chapter 13 bankruptcy provides individuals with a structured repayment plan to address their debts while allowing them to retain their assets, including their homes. 

Bankruptcy is a federal court process designed to help individuals and businesses eliminate their debts or repay them under the protection of the bankruptcy court.