Bankruptcy Chapters (basic definitions):

Chapter 7 – The chapter of the Bankruptcy Code providing for "liquidation" (i.e., the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors.) 

Chapter 11 – The chapter of the Bankruptcy Code under which a debtor, usually a business like a corporation or partnership, may reorganize (or less often, liquidate) under the terms of a plan that governs repayment of its debts. Individuals may also seek relief under Chapter 11.

Chapter 12 – The chapter of the Bankruptcy Code providing for adjustment of debts of a "family farmer" or "family fisherman," as the terms are defined in the Bankruptcy Code.

Chapter 13 – The chapter of the Bankruptcy Code providing for the adjustment of debts of an individual with regular income based on a court-approved plan.  (Chapter 13 allows a debtor to keep certain property and pay debts over time, usually three to five years, as dictated by the plan.)

For in-depth information regarding the chapters of bankruptcy visit the United States Courts Bankruptcy Basics page and choose a chapter link to learn more.