Bankruptcy is a legal process by which an individual or business, called the debtor, can petition the courts for relief from debts they're unable to pay. The goal of bankruptcy is to allow the ...

Bankruptcy is a legal tool to help you manage overwhelming debt. Common types include Chapter 7 and Chapter 13. Learn whether bankruptcy is right for you.

Definition of Bankruptcy. Bankruptcy is a legal status or process in which individuals, businesses, or organizations declare themselves unable to repay their outstanding debts to creditors.

Learn what bankruptcy is, the different types, and how it affects your finances. Find out the steps involved in filing for Chapter 11, Chapter 13, and Chapter 7 bankruptcy.

Bankruptcy: Definition & When To File. By Nicholas Rossolillo – Updated Apr 17, 2025 at 12:22AM Key Points. Bankruptcy is a legal process to ...

Ron Paul calls the country “bankrupt,”meaning the United States is unable to pay its debts. Under no definition is that true.

Bankruptcy courts have ample opportunity to recognize that there’s a serious public interest issue at stake to weigh in favor of workers. In 2012, robberies led to roughly $300 million in stolen ...

Bankruptcy may be a last resort. But some attorneys expect a wave of last resorts in the months ahead. So far during the coronavirus pandemic, many creditors and landlords are accommodating delays ...

Chapter 11 bankruptcy allows a debtor—typically a corporation, a sole proprietorship, or a partnership—to outline a plan of Skip to main content PREMIUM PRODUCTS ...

Chapter 7 bankruptcy is the simplest form of bankruptcy, also known as liquidation. The bankrupt party must sell off all its assets, then a court decides which creditors get paid and in what order.