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 ...

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 ...

Americans filed hundreds of thousands of bankruptcy petitions over the past year, with Chapter 7 representing a large percentage of those cases. That makes sense considering that Chapter 7 is ...

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).

Debt can feel overwhelming; sometimes, bankruptcy becomes the best course of action for achieving financial freedom. However, navigating the bankruptcy process can be confusing, especially when faced ...