Which chapters of bankruptcy are most commonly filed?

Chapter 13 and Chapter 7 are the most commonly filed chapters of bankruptcy. Chapter 7 is known as "liquidation bankruptcy," where the debtor's non-exempt assets can be sold to pay creditors, leading to the discharge of most debts. This chapter is generally quicker and simpler, which appeals to many individuals seeking a fresh start.

On the other hand, Chapter 13 is often referred to as a "reorganization bankruptcy." It allows individuals with a regular income to propose a plan to repay all or part of their debts over a three- to five-year period. This option is suitable for individuals who wish to keep their property and can make monthly payments towards their debts.

Both Chapter 7 and Chapter 13 serve common needs for consumer bankruptcy, which is why they are the most frequently filed compared to the other chapters listed.