What Is a Debt Discharge? The phrase "debt discharge" represents a pivotal point in a bankruptcy proceeding. It's the much-anticipated moment when an individual, who has declared bankruptcy, is ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Americans are in a tough spot right now when it comes to debt. According to the latest Household Debt and Credit Report, the total household debt hit $18.2 trillion in Q1 2025, and credit card ...

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 ...

Chapter 7 bankruptcy involves liquidating a debtor's non-essential assets to repay creditors. Chapters 11 and 13 are more expensive and longer than Chapter 7, but you can keep your assets. Chapter 7 ...

Filing for bankruptcy should be a last resort, but it can give you a fresh start. There are different kinds of bankruptcy you can file; the one you choose depends on what you’re eligible for and how ...