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2. Personal bankruptcy - Wikipedia

   en.wikipedia.org/wiki/Personal_bankruptcy

   The concept behind bankruptcy in Canada is that an individual assigns (surrender) everything they own to a trustee in bankruptcy in exchange for the elimination of their unsecured debts. The rules for filing personal bankruptcy in each province and territory differ slightly. In some areas of Canada individuals may be permitted to keep (exempt ...

3. Bankruptcy in the United States - Wikipedia

   en.wikipedia.org/wiki/Bankruptcy_in_the_United...

   Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...

4. Chapter 13, Title 11, United States Code - Wikipedia

   en.wikipedia.org/wiki/Chapter_13,_Title_11...

   The disadvantage of filing for personal bankruptcy is that, under the Fair Credit Reporting Act, a record of this stays on the individual's credit report for up to 7 years (up to 10 years for Chapter 7); [5] still, it is possible to obtain new debt or credit (cards, auto, or consumer loans) after only 12–24 months, and a new FHA mortgage loan just 25 months after discharge, and Fannie Mae ...

5. When should I file for bankruptcy? - AOL

   www.aol.com/finance/file-bankruptcy-011643245.html

   Both Chapter 7 and Chapter 13 will bring your credit score down significantly. If you start out with a credit score of 700 or higher, point losses of 200 or more are not uncommon with a bankruptcy ...

6. Chapter 7 Bankruptcy: What to Expect & How Bankruptcy Works - AOL

   www.aol.com/finance/chapter-7-bankruptcy-expect...

   A Chapter 7 bankruptcy can discharge a wide array of debt — credit card debt, tax debts, medical bills, personal loans, payday loans, even some types of student loans. Before You Can File for ...

7. Debt consolidation vs. Bankruptcy: Which is right for you?

   www.aol.com/finance/debt-consolidation-vs...

   Key takeaways. Bankruptcy can give you a fresh start by restructuring your debts or liquidating some of your assets, but it can ruin your credit. Debt consolidation combines several debts into one ...