The income limits for Chapter 7 depend on numerous factors, including a complex calculation called the means test.

When you file for bankruptcy, you’re basically telling a federal court that you can’t afford your debts and you need ...

Chapter 7 bankruptcy has specific income requirements, but many filers qualify. Here's what determines the outcome.

Could your debt be reduced or forgiven? Take our financial relief quiz. Filing for bankruptcy can come with steep costs, even before your debts are discharged. You’ll need to pay court filing fees, ...

*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, ...

Could your debt be reduced or forgiven? Take our financial relief quiz. Some business owners and individuals with large amounts of debt turn to Chapter 11 bankruptcy to restructure what they owe and ...