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 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 ...

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

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, ...