Chapter 7 bankruptcy is a legal process designed to help people who genuinely cannot pay their debts. It’s often called “liquidation bankruptcy” because it can involve selling some property to pay ...

When you're dealing with rapidly compounding debt and can't afford to pay off what's owed, Chapter 7 bankruptcy might seem like the answer you've been looking for. This type of bankruptcy essentially ...

The average American household currently carries over $7,000 in credit card debt, and for a large number of borrowers, other debts, like medical bills and personal loan debts, are also piling up amid ...

Could your debt be reduced or forgiven? Take our financial relief quiz. There is no minimum debt requirement to qualify for Chapter 7 bankruptcy, according to U.S. bankruptcy law. In most cases, it ...

Could your debt be reduced or forgiven? Take our financial relief quiz. Filing for bankruptcy can come with steep costs, even before your debts are discharged. You’ll need to pay court filing fees, ...

Corporations, limited liability companies (LLCs), and other businesses can file for protection under either Chapter 7 or Chapter 11 of the Bankruptcy Code. While a Chapter 11 bankruptcy can lead to ...

Bankruptcy may offer a fresh start, but it also carries lasting consequences for future credibility, financing and operations. That’s why it should be considered only after every other option has been ...