There are two common types of bankruptcy procedures in the United States, which are set out in Chapter 7 and Chapter 11 of the 1978 Bankruptcy Reform Act.

Name: There are two common types of bankruptcy procedures in the United States, which are set out in Chapter 7 and Chapter 11 of the 1978 Bankruptcy Reform Act.
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Chapter 7 and Chapter 11 are indeed the two most common types of bankruptcy procedures in the United States, as set out in the 1978 Bankruptcy Reform Act.

There Are Two Common Types of Bankruptcy Procedures in the United