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.

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 ...

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 ...

Legislation passed by the US Senate would increase fees that Chapter 7 bankruptcy trustees earn per case, increase Chapter 11 ...

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 ...