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 ...

Chapter 7 can wipe out overwhelming debt, with notable exceptions such as student loans. Many, or all, of the products featured on this page are from our advertising partners who compensate us when ...

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 ...

Many debtors confuse dismissal with discharge, so it’s essential to check your paperwork to understand your status before ...

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing ...

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, ...

While the ideal goal is to rebuild your credit after a bankruptcy filing, you could find the need to file for personal bankruptcy again. There’s no limit to the number of times you can file, but there ...

Chapter 7 bankruptcy involves discharging debt through liquidation. Chapter 13 bankruptcy focuses on reorganizing debt through a repayment plan that typically lasts three to five years. Filing Chapter ...

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