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 ...

Chapter 7 bankruptcy offers relief from your debt, but the limitations of this approach can impact your finances.

In a Chapter 7 bankruptcy, creditors can seize certain assets to repay the debts you owe. However, exceptions allow debtors to retain some of their assets (or at least part of the asset’s value).

Debt can feel overwhelming; sometimes, bankruptcy becomes the best course of action for achieving financial freedom. However, navigating the bankruptcy process can be confusing, especially when faced ...

Bankruptcy is a legal process to help individuals and businesses manage overwhelming debt. While it provides a path to financial relief, the decision to file bankruptcy requires careful scrutiny due ...

A debtor's non-exempt assets (and even the debtor's entire business) are commonly sold during the course of a bankruptcy case by the trustee or a chapter 11 debtor-in-possession ("DIP") as a means of ...

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 ...