Bankruptcy is a legal term that often induces fear and confusion in the minds of individuals and businesses struggling with mounting debts. It is essentially a legal recourse designed to provide those ...

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 ...

Filing for Chapter 7 can wipe out your debt quickly, but some property may be on the line if it isn't protected.

This bankruptcy timing rule could determine whether you keep recent payments or lose them to creditors. Here's why.

In a Chapter 7 bankruptcy, creditors can seize certain assets to repay the debts you owe. However, exceptions allow debtors to retain some of their assets (or at least part of the asset’s value).

Bankruptcy is a legal process to help individuals and businesses manage overwhelming debt. While it provides a path to financial relief, the decision to file bankruptcy requires careful scrutiny due ...