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

The income limits for Chapter 7 depend on numerous factors, including a complex calculation called the means test.

Emily Norris is the managing editor of Traders Reserve; she has 10+ years of experience in financial publishing and editing and is an expert on business, personal finance, and trading. Companies in ...

Chapter 7 can erase much of your debt, with notable exceptions such as student loans. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...

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 could involve selling your assets. Many, or all, of the products featured on this page are from our advertising partners ...

The type of small business you own determines the effect a Chapter 7 bankruptcy case will have on it. When a company files for Chapter 7 bankruptcy, the business closes. However, when the owner of a ...

Could your debt be reduced or forgiven? Take our financial relief quiz. There is no minimum debt requirement to qualify for Chapter 7 bankruptcy, according to U.S. bankruptcy law. In most cases, it ...

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 ...

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 ...