Attorney Andrea McNairy of Brown & Crouppen Law Firm explains that bankruptcy is a legal process designed to provide relief ...

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 ...

When debt becomes unmanageable, the first question is often not whether to file for bankruptcy, but which chapter offers the right framework. The answer is rarely one-size-fits-al ...

Drowning in debt? Both Chapter 7 and Chapter 13 bankruptcy could offer relief, but they work very differently.

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 ...

Americans filed hundreds of thousands of bankruptcy petitions over the past year, with Chapter 7 representing a large percentage of those cases. That makes sense considering that Chapter 7 is ...

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 ...