Debtors were denied a discharge when they could not adequately explain or provide sufficient documents for a complex asset ...

When a debtor files for bankruptcy, creditors often fear their claims will be wiped away. However, under Section 523 of the Bankruptcy Code, ...

Todd Christenson filed for chapter 7 bankruptcy in November 2010. In February 2011, a federal bankruptcy court in Minnesota discharged ...

Although bankruptcy is often considered a last resort, it can be a viable option for those with overwhelming debt and few assets. Bankruptcy can discharge certain debts, including credit card and ...

Bankruptcy can discharge or restructure most credit card debt, but there are exceptions. For example, luxury purchases or ...

The two most common types are Chapter 7 and Chapter 13 bankruptcy, and how your debts are discharged differs between the two. Under Chapter 7 bankruptcy, often called "liquidation bankruptcy ...

On Jan. 7, 2025, the Consumer Financial Protection Bureau announced a new rule banning medical debt from all credit reports.

One major disadvantage of debt settlement is that the government may tax forgiven or canceled debt as income. This could eat into your debt settlement savings or even wipe it out altogether. It's ...