Whether you’re facing foreclosure, maxed-out credit cards or constant calls from creditors, you’ll eventually have to do something for financial relief. One option is bankruptcy. However, you’ll face ...

Could your debt be reduced or forgiven? Take our financial relief quiz. The decision to file bankruptcy is a heady one, but then there is the question of which type of bankruptcy to file. You have ...

Lucas Downey is the co-founder of MoneyFlows, and an Investopedia Academy instructor. Khadija Khartit is a strategy, investment, and funding expert, and an educator of fintech and strategic finance in ...

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, ...

Chapter 13 bankruptcy is often referred to as “wage earner’s bankruptcy” or “repayment plan bankruptcy.” It’s a type of bankruptcy used by individual consumers—specifically those who are having ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Mark Henricks has written on mortgages, real estate and investing for many leading publications. He works from Austin, Texas, where he engages in songwriting, wilderness backpacking, whitewater ...

Chapter 7 bankruptcy is faster and cheaper than Chapter 13 bankruptcy, but it’s not the best option for everyone. Many, or all, of the products featured on this page are from our advertising partners ...

Filing for bankruptcy should be a last resort, but it can give you a fresh start. There are different kinds of bankruptcy you can file; the one you choose depends on what you’re eligible for and how ...

Bankruptcy is a big, scary monster that a lot of people are afraid to talk about. But if you're considering it, you need to know how it works. And two numbers you should be aware of? Chapter 7 and ...