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 ...

Consider the cost in both the short and long term Reviewed by Michael J Boyle While bankruptcy can be a viable solution to overwhelming debt besides credit counseling or debt relief companies, it ...

Could your debt be reduced or forgiven? Take our financial relief quiz. Find my match Could your debt be reduced or forgiven? Take our financial relief quiz. No minimum amount of debt is required for ...

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing ...

Chapter 7 can wipe out overwhelming 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 ...

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 ...