Bankruptcy is a legal process designed to relieve debt that a borrower cannot repay. It offers individuals and businesses a fresh financial start by liquidating assets or establishing a payment plan.

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 ...

Corporations, limited liability companies (LLCs), and other businesses can file for protection under either Chapter 7 or Chapter 11 of the Bankruptcy Code. While a Chapter 11 bankruptcy can lead to ...

In a recent decision that highlights a key circuit split, Bankruptcy Judge Patricia M. Mayer of the Eastern District of Pennsylvania ruled that equitable powers under Section 105(a) of the Bankruptcy ...

If an individual files for Chapter 7 bankruptcy, which discharges their personal obligations secured by a mortgaged property, are they still a “consumer” with a “debt” as the FDCPA defines those terms ...

Discover how company bankruptcy affects employee insurance benefits and coverage. Learn if and how you can retain benefits ...

A federal judge ordered that a bankruptcy proceeding for Dr. Phil McGraw’s Merit Street Media, the TV personality’s failed television network venture, be converted to a Chapter 7 liquidation — saying ...