Photo: Kelly Sikkema / UnsplashBankruptcy basics
- Debt and bankruptcy
How Bankruptcy Works: A Step-by-Step Guide From Filing to Discharge
A plain-English walkthrough of the bankruptcy process: credit counseling, filing, the automatic stay, the creditors meeting, discharge and what happens afterward.
4 min read - Debt and bankruptcy
Chapter 7 vs. Chapter 13 Bankruptcy: Key Differences
Compare Chapter 7 liquidation and Chapter 13 repayment plans: who qualifies, what happens to property and how long each lasts.
5 min read - Debt and bankruptcy
The Bankruptcy Means Test Explained: Who Qualifies for Chapter 7
How the Chapter 7 means test works, median income comparison, allowed expenses, exemptions from the test, and what happens if you do not qualify.
4 min read - Debt and bankruptcy
What Debts Cannot Be Discharged in Bankruptcy? A Plain-English List
Which debts usually survive bankruptcy, including most student loans, child support, recent taxes and debts from fraud, and how some can be handled in Chapter 13.
4 min read - Debt and bankruptcy
Will I Lose My House or Car in Bankruptcy? How Exemptions and Equity Protect Property
How bankruptcy treats homes, cars, retirement accounts and other property: exemptions, equity, staying current on loans, reaffirmation and Chapter 13 options.
4 min read - Debt and bankruptcy
Bankruptcy Exemptions: What Property Can You Keep?
How state and federal exemptions protect your home, car, retirement accounts and personal belongings in bankruptcy.
2 min read - Debt and bankruptcy
Bankruptcy and Your Credit Score: How Long Does It Last?
How a bankruptcy affects credit reports and scores, how long it stays and steps to rebuild credit afterward.
4 min read - Debt and bankruptcy
Small Business Bankruptcy Options: Chapter 7, 11 and Subchapter V
How businesses use bankruptcy to liquidate or reorganize, including simplified small business reorganization and owner liability.
2 min read
Getting help and comparing options
- Debt and bankruptcy
Do I Need a Bankruptcy Lawyer? Costs, Free Options and What to Ask
When you should hire a bankruptcy lawyer, typical cost structures, filing fees, free consultations, legal aid options and questions to ask before hiring.
4 min read - Debt and bankruptcy
Bankruptcy vs Debt Settlement vs Credit Counseling: Which Is Right for You?
A fair comparison of bankruptcy, debt settlement and nonprofit credit counseling, including costs, credit impact, timelines, risks and who each option fits.
4 min read - Debt and bankruptcy
Debt Settlement: How It Works and What Can Go Wrong
How negotiating a debt for less than you owe works, tax and credit effects, and warning signs of debt settlement scams.
3 min read - Debt and bankruptcy
Legal Aid for Debt, Collections and Consumer Problems: Where to Get Free Help
How to find free legal help with debt collection lawsuits, wage garnishment, repossession, bankruptcy questions and consumer scams.
4 min read - Debt and bankruptcy
Cosigning a Loan: Risks You Take on and How to Protect Yourself
What cosigning means legally, how it affects your credit and finances and steps to reduce risk or get released.
3 min read
Debt collectors and lawsuits
- Debt and bankruptcy
Debt Collector Rights: What Collectors Can and Cannot Do
The Fair Debt Collection Practices Act limits how third-party collectors may contact you. Learn your rights and how to dispute a debt.
5 min read - Debt and bankruptcy
Sued for Credit Card Debt? What to Do Step by Step
How to respond to a debt collection lawsuit, the deadline to answer and the defenses and options that may be available.
5 min read - Debt and bankruptcy
Old Debts and Time-Barred Debt: Can You Still Be Sued?
How a state time limit on debt lawsuits works, why a small payment can matter and what to do if a collector contacts you about an old debt.
5 min read - Courts and claims
Default Judgments: What They Are and How to Undo One
How a default judgment happens, its consequences and how to ask a court to set it aside.
2 min read - Courts and claims
How to Collect a Court Judgment
Winning is not the same as getting paid. Learn the tools for collecting a money judgment and their limits.
4 min read
Garnishment, levies and repossession
- Debt and bankruptcy
Wage Garnishment: Limits, Exemptions and How to Stop It
How wage garnishment works, the federal limit on how much can be taken and what you can do if your paycheck is garnished.
5 min read - Debt and bankruptcy
Frozen Bank Account and Bank Levy: What You Can Do
Why a bank account may be frozen, which funds are protected and how to respond to a levy.
2 min read - Debt and bankruptcy
Car Repossession: What Lenders Can Do and Your Rights
When a lender can repossess a car, the limits on how it is done, what you can get back and how a deficiency balance works.
5 min read - Housing and landlords
Foreclosure Basics: Process, Timeline and Ways to Avoid It
How foreclosure works, the difference between judicial and non-judicial processes and options like loan modification and housing counseling.
4 min read
Specific debts
- Debt and bankruptcy
Medical Bills and Collections: Your Rights and Options
How to dispute medical bills, ask for financial assistance, what happens if a bill goes to collections and how credit reporting rules apply.
4 min read - Debt and bankruptcy
Student Loan Default: Consequences and Ways Out
What happens when federal or private student loans go into default and the main options to get back on track.
5 min read - Debt and bankruptcy
Owing the IRS: Payment Plans, Offers in Compromise and Hardship
Options if you cannot pay your tax bill, including installment agreements, offers in compromise and currently not collectible status.
2 min read - Debt and bankruptcy
Payday Loans: Costs, State Limits and Safer Alternatives
How payday loans work, why they are expensive, how states regulate them and alternatives if you need cash quickly.
2 min read - Debt and bankruptcy
What Happens to Debt When Someone Dies?
Who pays a deceased person's debts, how estates settle them and when family members are responsible.
2 min read
Credit reports and identity theft
- Debt and bankruptcy
How to Dispute Credit Report Errors
Your rights under the Fair Credit Reporting Act, how to find mistakes and the steps to dispute them with the bureaus and lenders.
2 min read - Debt and bankruptcy
Credit Freeze vs. Fraud Alert: Which Should You Use?
How credit freezes and fraud alerts work, the differences, how to place them for free and how to lift or renew them.
2 min read - Debt and bankruptcy
Identity Theft: What to Do Right Away
Step-by-step actions if your identity is stolen, including fraud alerts, credit freezes and reporting to the FTC.
2 min read - Debt and bankruptcy
What to Do If You Were Scammed: Report, Recover and Protect Yourself
Steps to take after falling for a scam, who to contact, whether you can get money back and how to protect your accounts.
2 min read
Frequently asked questions
How does bankruptcy work?
You complete credit counseling, file a petition with the bankruptcy court, which triggers an automatic stay on most collection, attend a creditors meeting and, if all goes well, receive a discharge of eligible debts.
Do I need a bankruptcy lawyer?
You can file without one, but mistakes are costly, and many lawyers offer free consultations. Legal aid may help if you qualify.
What is the difference between Chapter 7 and Chapter 13?
Chapter 7 is liquidation with a fast discharge for people who pass the means test. Chapter 13 is a repayment plan over three to five years that lets you keep property and catch up on arrears.
Can debt collectors threaten to arrest me?
No. Unpaid consumer debt is a civil matter, and collectors cannot lawfully threaten arrest.
Which is better, bankruptcy or debt settlement?
It depends on your debts, income, assets and goals. Compare options with a nonprofit counselor and a bankruptcy lawyer.