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 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 ...

Filing for bankruptcy can feel like a financial lifeline when you’re drowning in debt, but not everyone qualifies. Understanding what might block your path to bankruptcy is crucial before you start ...

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 ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. So what determines whether you'll get approved for Chapter 7 bankruptcy?

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 ...

If you’re exploring bankruptcy, that probably means your debt situation is serious. It can be really frustrating to find out that bankruptcy cases cost money. If you had money, you might not need ...