Learn what Chapter 7 bankruptcy is, how it works, who qualifies, and its impact on your finances.
The United States Bankruptcy Code has different ways and outcomes, when filing for bankruptcy protection. Learn the differences between Chapter 7 and Chapter 11.
Bankruptcy Code. They are: Chapter 7 (liquidation for individuals or businesses), Chapter 9 (for municipalities), Chapter 11 (reorganization, usually for businesses), Chapter 12 (for family...
There are two main types of business bankruptcies in the U.S.: Chapter 7, or “liquidation bankruptcy,” and Chapter 11, or “rehabilitation bankruptcy.”
Bankruptcy filings can cost thousands of dollars depending on factors like your location and the type you file for.
Chapter 7 bankruptcy is a powerful legal tool that allows you to totally erase many debts, including credit card debt, medical debt, car loans, and payday loans.
When you’re facing financial hardship and struggling to pay off debt, it’s easy to feel like there’s no solution. Bankruptcy is one option that’s available when your debt has become too overwhelming. This legal process allows you to either reduce or eliminate your debt or get onto a payment plan to make it more manageable. But it also comes with added costs, can result in losing some of your assets and can have long-term financial consequences. The good news is there are steps you can take to avoid bankruptcy altogether, even if you’r ...
Chapter 7 Bankruptcy Most people file for Chapter 7 bankruptcy, which allows you to dispose of unsecured debts, such as credit card balances and medical bills. You must liquidate property...
Learn what is Chapter 7 bankruptcy, how Chapter 7 works, whether you'll qualify by passing the Chapter 7 means test, and the steps involved in filing Chapter 7.
Individuals can file either Chapter 7 bankruptcy or Chapter 13 bankruptcy. Here is how the two types work and some alternatives to consider first.