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 ...

Alexza, a Midwest native, struggled with credit-card debt for 10 years, working multiple jobs—as a nanny, bartender, and distillery tour guide—just to meet the minimum payments. Collection agencies ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. One of these rules, known as the "90-day rule," can have a big impact on ...

Business Insider: Matthew Salerno, associate professor at the School of Law, said that filing for Chapter 7 bankruptcy requires precise, truthful information, as "mistakes, like missing or conflicting ...

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 ...

Legislation to increase bankruptcy fees and extend the terms of temporary bankruptcy judges has been signed into law.

On Friday, February 6, 2026, the President signed into law: S. 3424, the “Bankruptcy Administration Improvement Act of 2025,” ...

A court pauses liquidation as creditors fight for the future of iconic bourbon and vodka labels.

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. So how much debt is required to file for bankruptcy? And are there other ...