About Bankruptcy Filing bankruptcy can help a person by discarding debt or making a plan to repay debts. A bankruptcy case normally begins when the debtor files a petition with the bankruptcy court. A petition may be filed by an individual, by spouses together, or by a corporation or other entity. All bankruptcy cases are handled in federal courts under rules outlined in the U.S. Bankruptcy Code. Bankruptcy may help you get relief from your debt, but it's important to understand that declaring bankruptcy has a serious, long-term effect on your credit. Bankruptcy will remain on your credit report for years, affecting your ability to open credit card accounts and get approved for loans with favorable rates. Bankruptcy Basics. Filter for statistical tables by topic, report, or date. Topics include court of appeals, district and bankruptcy courts, and the U.S. Supreme Court. The district court topic includes sub-topics for data on jury, civil, criminal, magistrate judges, probation, pretrial services, and trials.