Bankruptcy

Filing for Chapter 7 bankruptcy can be a significant step for those struggling with debt. A key part of the process is the meeting of creditors, also known as the 341 hearing.  If you file for Chapter 7 bankruptcy, you must attend this hearing to move forward with...

Completing Chapter 7 bankruptcy allows you to eliminate many unsecured debts, such as your credit card balances and personal loans. The goal of this process is to help you regain your financial footing. However, bankruptcy courts will be on watch for any efforts to...

Chapter 7 bankruptcy offers small businesses the opportunity to discharge most of their debts, providing relief from overwhelming financial burdens. By liquidating assets to pay off creditors, companies can eliminate unsecured debts, allowing them to make a fresh...

Chapter 7 bankruptcy, sometimes known as "liquidation bankruptcy," is an option for individuals, families and business owners looking for a second chance at overcoming severe amounts of debt. As the moniker implies, this type of bankruptcy entails liquidating all of...

A little more than two-thirds of Americans who file for bankruptcy do so for the same reason: mounting medical bills. In fact, medical debt represents the top reason people pursue bankruptcy. A sudden illness, emergency surgery, and injuries sustained in a car or...

Not everyone is eligible to file for Chapter 7 bankruptcy. If you are considering it to address your financial challenges, it is important to understand the eligibility rules. The most important element to consider is the means test. There are a few things everyone...

People suffering from difficult amounts of debt file for bankruptcy in their efforts to discharge and dissolve that debt for good. The liberating feeling of wiping your debt slate clean is one of the best feelings anyone can have upon the completion of the bankruptcy...

Personal bankruptcy rates have been especially high for elderly individuals in recent years. This is partly because the baby boomer generation is getting older, and that means that a larger segment of the U.S. population is over 65, so naturally more older people will...

Consumer debt isn't anything that can be taken lightly. While credit is a useful tool, there are times when even the best planned purchases turn out to be a burden that is too much to handle. When you are facing crushing debts, your focus is likely going to be getting...