And now the owners of another specialty bar, popular dog bar chain Bar K, filed for Chapter 7 bankruptcy liquidation after ...

Chapter 7 stays on your record for 10 years, while Chapter 13 stays for seven years. That would seem to suggest that Chapter 7 is worse for your credit score, but with Chapter 7, your debt, or at ...

Credit Consequences of Chapter 7 vs. Chapter 13 Declaring bankruptcy, in general, has a negative impact on your credit, whether you file Chapter 7, Chapter 13 or another type of bankruptcy.

The Chapter 7 bankruptcy process only starts after you complete a credit counseling course from an approved agency. “The course can be taken online, over the phone, or in person,” Tayne said.

An ambitious burger concept aimed to disrupt fast food. Just a year later, it has filed for bankruptcy and closed its doors.

Chapter 7 doesn’t usually provide a discharge for IRS tax debt, student loans or child support arrears. You can lose assets. This may include cash or even your home, in some cases.

Bankruptcy is a negative credit event, but the effect isn’t the same for everyone. Initially, Chapter 7 and Chapter 13 have the same effect on a credit score, which diminishes over time.

Chapter 7 allows you to discharge your debts by selling non-exempt assets, whereas Chapter 13 discharges debts by creating a repayment plan and paying the debts off over three to five years.

Chapter 7 bankruptcy can offer a financial reset, but it's not without consequences. You'll likely lose some assets, damage your credit and remain on the hook for certain debts.

They must file for Chapter 7 bankruptcy separate from their owners. As a result, the liquidation of the business under Chapter 7 results in the business ceasing to exist.

Chapter 7 bankruptcy is the bankruptcy filing most often used by consumers. It provides protection from creditors, puts a stop to most collection efforts and can eventually wipe debts away ...