Learn about the pros and cons of filing for bankruptcy on a car loan Matt Webber is an experienced personal finance writer, researcher, and editor. He has published widely on personal finance, ...

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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 ...

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing ...

Consider the cost in both the short and long term Reviewed by Michael J Boyle While bankruptcy can be a viable solution to overwhelming debt besides credit counseling or debt relief companies, it ...

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 ...

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Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing ...

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, ...