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 ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. But while pursuing this type of debt relief can be a smart move in ...

Americans are in a tough spot right now when it comes to debt. According to the latest Household Debt and Credit Report, the total household debt hit $18.2 trillion in Q1 2025, and credit card ...

Chapter 7 bankruptcy is faster and cheaper than Chapter 13 bankruptcy, but it’s not the best option for everyone. Many, or all, of the products featured on this page are from our advertising partners ...

Could your debt be reduced or forgiven? Take our financial relief quiz. Understanding the different types of bankruptcies can help individuals and businesses make informed decisions about financial ...

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 ...

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 ...