Filing for Chapter 7 can wipe out your debt quickly, but some property may be on the line if it isn't protected.

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Bankruptcy is a legal status or process in which individuals, businesses, or organizations declare themselves unable to repay their outstanding debts to creditors. It is a means to seek financial ...

If you’re getting hounded by creditors, facing foreclosure on your home or feeling overwhelmed by debt in other ways, bankruptcy might be the answer. Filing for bankruptcy has lasting ramifications on ...

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 ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. But what does that bankruptcy reset button mean for the debt collectors ...