When you file for bankruptcy, you’re basically telling a federal court that you can’t afford your debts and you need ...

Americans are in a tough spot right now when it comes to debt. According to the latest Household Debt and Credit Report, the total household debt hit $18.2 trillion in Q1 2025, and credit card ...

This little-known bankruptcy timing rule can determine whether a Chapter 13 case ends in relief or disappointment.

Could your debt be reduced or forgiven? Take our financial relief quiz. Filing for bankruptcy can come with steep costs, even before your debts are discharged. You’ll need to pay court filing fees, ...

*Chapter 7 bankruptcy, also known as “liquidation bankruptcy,” allows people to discharge most unsecured debts. This includes medical bills, payday loans, and credit card balances. A trustee may sell ...

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, ...

There is a movement growing online of self-proclaimed financial advisors trying to change the perception of personal bankruptcy. Instead of seeing going broke as a shameful thing—the theory goes—we ...

Debt settlement and bankruptcy are drastic solutions for serious financial problems. Most consumers who qualify for Chapter 7 are better off choosing bankruptcy. Debt settlement can be a better option ...

Could your debt be reduced or forgiven? Take our financial relief quiz. Some business owners and individuals with large amounts of debt turn to Chapter 11 bankruptcy to restructure what they owe and ...