The parent company of a major mattress and bedding retail chain filed for Chapter 7 bankruptcy to liquidate and close all of ...

Consumers purchased the beds in stores nationwide from September 2019 through April 2024 for between $150 and $250. In ...

Nibley, Utah – CVB Inc. is the subject of an involuntary Chapter 7 bankruptcy petition filed in U.S. Bankruptcy Court for the ...

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.

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 ...

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 ...

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.

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.

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.

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.