Learn the essentials of bankruptcy, including eligibility, timelines, and alternatives, to make informed financial decisions.

Before filing for bankruptcy, you need to know what debts must be disclosed and what happens if you leave some out.

Financial hardship can come at any moment. Losing a job, receiving an unexpected medical bill, or being buried with credit ...

If an individual files for Chapter 7 bankruptcy, which discharges their personal obligations secured by a mortgaged property, are they still a “consumer” with a “debt” as the FDCPA defines those terms ...

Bankruptcy can help you get a fresh start, but some types of debt aren't alleviated when you file for bankruptcy. Several others are very difficult to get discharged.

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing ...

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing ...

*Chapter 7 bankruptcy, also known as “liquidation bankruptcy,” allows people to discharge most unsecured debts. This includes medical bills, payday loans, and credit card balances. A trustee may sell ...

Elysse Bell is a finance and business writer for Investopedia. She writes about small business, personal finance, technology, and more. Vikki Velasquez is a researcher and writer who has managed, ...