Bankruptcy Basics

What Is Bankruptcy?

What you need to know about Chapter 7 and Chapter 13 bankruptcy.

Filing For Bankruptcy in 2023

When considering filing for bankruptcy, it can be challenging to make sense of the bankruptcy process and the available options. Our bankruptcy guide not only answers your bankruptcy questions but explains the three types of bankruptcy available, Chapter 7 bankruptcy, Chapter 13 bankruptcy, and Chapter 11 bankruptcy, so you can navigate the bankruptcy process successfully when filing for bankruptcy in 2023.

Chapter 7 vs. Chapter 11 Bankruptcy

Learn how bankruptcy rules differ depending on whether an individual or small business files for Chapter 7 or Chapter 11 bankruptcy.

What Bankruptcy Can and Cannot Do

Bankruptcy is a powerful tool for debtors, but some kinds of debts can't be wiped out in bankruptcy.

The New Bankruptcy Law: Changes to Chapter 7 and 13

In 2005 Congress overhauled bankruptcy law, making it harder for some people to file for Chapter 7 bankruptcy.

Involuntary Bankruptcy

Involuntary bankruptcies are rarely filed against individuals. Learn more.

Bankruptcy and the Personal Guarantee

Find out how bankruptcy might help you get rid of a personal guarantee.

Understanding Bankruptcy Reorganization Plans

Learn about the four chapters that allow bankruptcy filers to restructure debt.

The Differences Between a Charge Off and Repossession in Bankruptcy

How a charge off or repossession is handled in a bankruptcy depends on what the original debt was for, whether the debt was secured by collateral, and what type of bankruptcy is being filed. Regardless of whether it is a charge off or repossession, it is important to include the debt in any bankruptcy filing in order to obtain a discharge (eliminate) of the debt.

An Overview of Chapter 13 Bankruptcy

People who earn a significant income or want to protect valuable property will file for Chapter 13 bankruptcy. In exchange for debt relief, these filers pay their discretionary income to creditors in a three- to five-year repayment plan. Learn how the Chapter 13 bankruptcy process works, including how much you'll pay in your Chapter 13 repayment plan.

A Chapter 7 Bankruptcy Overview

Learn the basics about Chapter 7 bankruptcy, how it works and what it can do.

What Are the Differences Between Chapter 7 and Chapter 13 Bankruptcy?

Check out our handy table listing the differences between Chapter 7 and Chapter 13 bankruptcy.

Chapter 12 Bankruptcy for Farmers & Fishermen

Chapter 12 bankruptcy is a reorganization bankruptcy for family farmers and fisherman.

Common Types of Real Property Ownership

When you file for bankruptcy, you must list your legal interest in your real estate. Here are some of the common types of property ownership.

When Is a Bankruptcy Claim Contingent, Unliquidated, or Disputed?

When you file for bankruptcy, you fill out a large packet of forms in which you provide detailed information about your debts, property, and finances.

Bankruptcy Basics

Learn about the new bankruptcy laws, including the means test, income requirements and other new rules.