Bankruptcy is a federal legal process overseen by a judge in a bankruptcy court, a division of district court in the state. Successful bankruptcy disposition allows debtors to reduce or eliminate their debts. In some cases even if the debt is not reduced or eliminated, it may be restructured. That means that the debt can be repaid in smaller installments over a longer period of time. Title 11 of the U.S. Code provides the law that is applied in the bankruptcy courts. There are many chapters in the code; however, chapters 7, 11, 12, and 13 are the most utilized chapters in bankruptcy courts. Individuals generally file under chapter 7 or 13, and corporations generally file under chapter 11. Farmers and fishermen file under chapter 12.