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There are several chapters like chapter 7, 9,11,12,13 of bankruptcy code under the federal law which governs the bankruptcy laws of New York. The various chapters under the bankruptcy law cover various issues and therefore guides as to how to deal with, and decide cases falling under each chapter effectively. Chapter 7 is applicable for debtors who have no assets to repay the debts. Chapter 9 deals with cases of government municipalities. For the owners or shareholders of a company there is chapter 11. Chapter 12 deals with fishermen and farmers. For salaried individuals or families, self employed and wage earners there is Chapter 13. As fixed under chapter 7 of the New York bankruptcy law, the income of an individual under such cases should be less than the average income. Under this chapter, the cases that are handled are almost made fully exempt from the debt, but some things like student loans, alimony, child support, fraudulently acquired debts have to be paid off. The rules are