Chapter 13 is a type of bankruptcy that allows individuals to reorganize their debts into an affordable payment plan. This option is typically used to stop foreclosures, tax seizures, repossessions and garnishments. It also helps protect assets that might otherwise be sold to pay creditors.
Chapter 11 is used by corporations and sometimes small businesses or individuals with at-risk assets. It allows a debtor to reorganize its assets and liabilities in such a way as to preserve the assets and maintain the business.