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

The average American household currently carries over $7,000 in credit card debt, and for a large number of borrowers, other debts, like medical bills and personal loan debts, are also piling up amid ...

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 ...

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, ...

Epiq AACER linked the rise to the "mounting financial pressure" faced by Americans in 2025, reflected in rising household ...