Choosing to file for bankruptcy is a big decision, but it’s the first of many that filers will encounter as they go through the process. One of the most important decisions you’ll make is the type of ...

Whether you’re facing foreclosure, maxed-out credit cards or constant calls from creditors, you’ll eventually have to do something for financial relief. One option is bankruptcy. However, you’ll face ...

Mark Henricks has written on mortgages, real estate and investing for many leading publications. He works from Austin, Texas, where he engages in songwriting, wilderness backpacking, whitewater ...

Filing for bankruptcy should be a last resort, but it can give you a fresh start. There are different kinds of bankruptcy you can file; the one you choose depends on what you’re eligible for and how ...

The two main bankruptcy options available to people overrun by consumer debt are Chapter 7 or Chapter 13. The options differ greatly in how they work and the relief they provide. Below are the basic ...

Lucas Downey is the co-founder of MoneyFlows, and an Investopedia Academy instructor. Khadija Khartit is a strategy, investment, and funding expert, and an educator of fintech and strategic finance in ...

Chapter 7 and Chapter 13 bankruptcy are common individual bankruptcies you can file to get some relief if you’re struggling to repay debt. Chapter 7 helps you discharge certain debts, while Chapter 13 ...

Deciding whether or not to file for bankruptcy is never easy. If you have exhausted all other options and feel like you are drowning in debt and unable to make ends meet, bankruptcy may be a way to ...

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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 ...

The means test assesses your ability to repay debts to determine eligibility for Chapter 7 bankruptcy. You automatically pass the means test if your household income is under your state's median ...