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U.S. Code: Title 11, commonly referred to as the Bankruptcy Code, governs federal bankruptcy law in the United States. It provides the legal framework for individuals and businesses to seek relief from debts they cannot repay. The code is divided into several chapters, each addressing different types of bankruptcy proceedings.

1. Chapter 7: This chapter involves liquidation bankruptcy, where a debtor's non-exempt assets are sold off to pay creditors.

Individuals and businesses can file under Chapter 7, and it typically results in the discharge of most debts, allowing the debtor to start fresh.

2. Chapter 11: Primarily used by businesses, Chapter 11 allows for reorganization of debts while the business continues to operate. The debtor proposes a plan to keep its business alive and pay creditors over time. This chapter is often complex and can involve negotiations with creditors.

3. Chapter 13: This chapter is designed for individuals with a regular income who wish to keep their property while repaying debts over a three to five-year period. It allows debtors to create a repayment plan to pay off all or part of their debts.

4. Chapter 12: Specifically for family farmers and fishermen, this chapter provides a way for them to reorganize their debts while continuing their operations.

5. Chapter 15: This chapter deals with cross-border insolvency cases, providing a mechanism for dealing with debtors who have assets or debts in multiple countries.

The Bankruptcy Code outlines the procedures for filing for bankruptcy, the rights and responsibilities of debtors and creditors, and the roles of bankruptcy courts. It aims to balance the interests of debtors seeking relief and creditors seeking repayment. The process typically involves filing a petition, attending a meeting of creditors, and potentially undergoing a court hearing to confirm a repayment plan or discharge debts.