Chapter 7 bankruptcy has specific income requirements, but many filers qualify. Here's what determines the outcome.

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 ...

Guidance for business entities seeking to liquidate their assets under Chapter 7 of the Bankruptcy Code, including why a ...

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 ...

A federal bankruptcy judge has ordered Dr. Phil McGraw's collapsed television startup Merit Street Media into liquidation ...

Elysse Bell is a finance and business writer for Investopedia. She writes about small business, personal finance, technology, and more. Vikki Velasquez is a researcher and writer who has managed, ...

A federal judge ruled that a bankruptcy proceeding for Dr. Phil McGraw's Merit Street Media, the TV personality's failed ...

Lawyers for Merit Street Media are expected to appeal the ruling, which installs a chapter 7 trustee with the power to sue.