A company experiencing financial hardship may have no choice but to file for bankruptcy and there are different types of bankruptcies to choose from. A chapter 7 bankruptcy is known as a straight ...

When a corporation or partnership runs into financial trouble but wants to remain open, it has the option to file for a chapter 11 bankruptcy. This provides protection from creditor actions while the ...

Can you explain in simple terms the definition of Chapter 7 bankruptcy? Our newspaper lists the following: “Court-appointed trustee sells assets and the debtor is discharged of debts.” A neighbor of ...