Chapter 7

Many predicted record numbers of personal bankruptcies this year. Many businesses downsized or closed for good. Millions of workers lost their jobs. Competition for vacancies soared, and the unemployment rate reached 14%. Yet, to the surprise of many, the number of...

Many people associate filing bankruptcy with irresponsible spending. Yet, when researchers looked into why people file for bankruptcy, they found a far more shocking truth. According to a study published in the American Journal of Public Health, two-thirds of...

It can be hard to stay on top of your finances, especially when you have recently lost your job or your income has become unstable. Sometimes, outgoings can seem like a leaking tap that just can't be turned off, while income is hard to come by. If you have found...

There is nothing shameful about the bankruptcy process. Every year, thousands of people throughout Texas use bankruptcy to discharge their debts and start fresh. In fact, the number of people filing Chapter 7 is likely to increase significantly in the second half of...

Most people already know that filing for bankruptcy will have an immediate, negative impact on their credit score and ability to secure future lines of credit. However, the exact impact of bankruptcy on your credit situation will vary depending on many factors. There...

Chapter 7 bankruptcy is arguably the most aggressive form of bankruptcy available to individuals dealing with unsustainable levels of debt. Without making an effort to repay their debts, individuals can theoretically discharge unsecured debt such as credit card...

When your personal debt levels become overwhelming, you may feel like you have no option other than to take drastic measures to regain financial solvency. Bankruptcy may only comes to mind when you have more debt than you can feasibly repay. Chapter 7 bankruptcy, in...