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).

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 ...

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 ...

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 ...

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 ...

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