We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. The bankruptcy system operates under strict federal rules, after all, ...

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 ...

The decision to file for bankruptcy is rarely easy, but with Americans now carrying more than $1.2 trillion in credit card debt and the average interest rates on those balances exceeding 22%, the ...