Bankruptcy - United States Courts Bankruptcy helps people who can no longer pay their debts get a fresh start by liquidating assets to pay their debts or by creating a repayment plan Bankruptcy laws also protect financially troubled businesses This section explains the bankruptcy process and laws
Bankruptcy Guide 2025: Chapter 7 vs. 13 Costs and Process - Nolo Bankruptcy is a federal legal process that provides a fresh financial start by eliminating qualifying debt or restructuring debt payments The three main types of bankruptcy are Chapter 7, Chapter 13, and Chapter 11, with most people filing for either Chapter 7 or Chapter 13
How Bankruptcies Work | Overview, Process, and Impact How Do Bankruptcies Work? Bankruptcy is a legal procedure that allows individuals or businesses unable to pay their debts to seek relief from some or all of them
Bankruptcy frequently asked questions | Internal Revenue Service On this page General questions for taxpayers in bankruptcy Installment agreements and bankruptcy Balance due inquiry for liabilities that survive the bankruptcy Tax refunds during bankruptcy Bankruptcy resources General questions for taxpayers in bankruptcy How can I speak to the IRS about my bankruptcy case? (added Aug 5, 2024) Call 800-973-0424 Monday through Friday, 7 a m to 10 p m
What Are the Requirements for Bankruptcy? - Experian Bankruptcy eligibility requirements differ depending on whether you file Chapter 7 or Chapter 13, the two options applicable to individuals seeking protection from overwhelming debt
Bankruptcy - Wikipedia Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor