Bankruptcy is a legally declared inability by an individual, or business, to pay their creditors. The declaration is known as seeking bankruptcy protection (from creditors) or initiating a bankruptcy filing. Unsecured debts -- like credit card balances -- are typically in peril in bankruptcy filings. But recent changes to the U.S. bankruptcy code have seen more consumers forced to file Chapter 13, which requires a debt repayment plan, rather than Chapter 7, which effectively wipes out unsecured debt.

See all Topics

Portfolio Recovery Completes Aktiv Acquisition; Rebrands as PRA Group

16 July 2014

Circuit Court Holds that Filing a Proof of Claim on Time-Barred Debt Violates FDCPA

14 July 2014

State May Have to Defend its Debt Collection Practices After Settlement

24 June 2014

Executive Change: WWR Selects Scott Fink as Bankruptcy Business Unit Leader

29 April 2014

Encore Capital Group Closes Acquisition of Grove Capital Management

2 April 2014

Encore Capital Announces Two More International ARM Acquisitions

26 February 2014

Portfolio Recovery Associates Acquires UK IVA Platform

4 February 2014

15 ARM Firms Among Top 50 Creditors Listed in Bankruptcy Filings

24 January 2014

Bankruptcy Filings Down 13 Percent in 2013; Lowest Since 2007

7 January 2014

New York Times Investigative Report Focuses on Student Loan Guaranty Agency

2 January 2014

Bankruptcy FDCPA Case Dismissal Upheld on Appeal

11 November 2013

Commercial Law League of America Announces Award Recipients

22 October 2013

Phin Solutions, Inc. Achieves ARM Industry Gold Compliance Standard, TECH LOCK Certified

21 October 2013

CFPB Sues Debt Relief Firm that Questioned its Authority

21 August 2013

Lawsuit from Legal Services Firm Challenges CFPB Investigative Authority

24 July 2013

Shermeta, Adams & Von Allmen, P.C. Celebrates 40 Year Anniversary

10 July 2013

Value Healthcare Services CEO Ezra Zucker to Speak at Keystone AAHAM on July 18

21 May 2013

Portfolio Recovery Associates Throws Around Big Numbers in First Quarter

1 May 2013

Executive Change: Ezra Zucker Named CEO of Value Healthcare Services

12 March 2013

Executive Change: New General Counsel Hired at Ascension Capital Group

13 February 2013