The number of U.S. bankruptcy filings is reaching new heights. According to the Administrative Office of the U.S. Courts, the total number of bankruptcies filed during the first half of this year jumped 14 percent over the same period in…

More than likely you probably know someone who has filed for bankruptcy. After all, in 2009 alone there were some 1.4 million people who sought a fresh financial start. But what are the differences between the two different types of…