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 ...

Chapter 7 bankruptcy involves liquidating a debtor's non-essential assets to repay creditors. Chapters 11 and 13 are more expensive and longer than Chapter 7, but you can keep your assets. Chapter 7 ...

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 ...

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 ...

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 ...

First Brands Group and some of its creditors are weighing a shift of some of its units into the Chapter 7 bankruptcy ...

The average American household currently carries over $7,000 in credit card debt, and for a large number of borrowers, other debts, like medical bills and personal loan debts, are also piling up amid ...

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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 ...

The Company was informed that a voluntary Chapter 7 bankruptcy petition is being filed for its subsidiary, Takeover Industries, Inc. The Chapter 7 process will be handled through the applicable U.S.