Chapter 7 bankruptcy is a process that erases most unsecured debt in a few months. Learn who qualifies, what you keep, and what it costs.

Bankruptcy is a federal court process that erases or restructures debts you cannot repay. Here's how Chapter 7 and 13 work and what you keep.

Corporations, limited liability companies (LLCs), and other businesses can file for protection under either Chapter 7 or Chapter 11 of the Bankruptcy Code. While a Chapter 11 bankruptcy can lead to ...

Filing for bankruptcy isn't a decision that most people take lightly, and for good reason. Not only does a bankruptcy have a significant impact on your finances, but you must also meet specific ...

When the financial troubles pile up faster than you can manage them, as they are for many borrowers in today's high-rate, inflationary environment, filing for bankruptcy can feel like the only way out ...

Elysse Bell is a finance and business writer for Investopedia. She writes about small business, personal finance, technology, and more. Vikki Velasquez is a researcher and writer who has managed, ...

The number of Americans who file for bankruptcy is growing. More than 500,000 people took this step in 2025, nearly 50% more than in 2022. And the numbers have kept on climbing, with a 12% jump in ...