Chapter 7 bankruptcy is a type of bankruptcy that involves a process for debtors to eliminate most of their debts. Through the process, debtors have the opportunity to start over with a clean slate in terms of their debt and credit. It is essentially a process that allows people to start over financially once it has been completed. However, it is no...

As of 2005, debtors must pass the "means" test in order to qualify for Chapter 7 bankruptcy. The "means" test is used to determine whether your income is low enough relative to your necessary expenses to qualify for Chapter 7 bankruptcy. The test is a specific formula designed to prevent high-income earners from taking advantage of the system. The i...

If you are overwhelmed with debt and live pay check to pay check, hoping nothing goes amiss, you are not alone. In 2016, nearly 800,000 people filed for bankruptcy so they could relieve themselves of their financial burdens and get a fresh......

If you are struggling with debts and simply cannot catch up, then bankruptcy can give you a fresh start. It is important to understand how the bankruptcy process works and what can and cannot be discharged under bankruptcy before proceeding.......

A bankruptcy worksheet is an excellent way to organize your finances and will help you determine if filing bankruptcy is a good option for you. These instructions will explain how to create a bankruptcy worksheet using LegalNature and......

Filing Chapter 7 bankruptcy allows people overburdened by debt to get rid of some or all of it and have a fresh start. A person appointed by the bankruptcy court, called a “Trustee,” oversees each case. This article will discuss the Chapter 7......

Chapter 13 bankruptcy is an excellent way for people with too much debt to wipe the slate clean and get a fresh start. This article discusses the Chapter 13 bankruptcy process, describes how it differs from a Chapter 7 bankruptcy, and explains......