But not always. Some business owners opt for Chapter 7, and some homeowners end up filing a Chapter 13 bankruptcy. Below, we'll break down the differences a bit more: Eligibility requirements.

A business that undergoes Chapter 7 bankruptcy closes once proceedings are completed. How Chapter 7 bankruptcy works During Chapter 7 bankruptcy, secured and unsecured debts are treated differently.

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With companies controlled by Daryl Heller now allegedly owing more than $200 million to a variety of creditors, one lender is ...

The company seeking bankruptcy protection faces many reputational and business challenges, the biggest of which is a loss of ...

or liquidate in an orderly fashion (Chapter 7). In the past few years, the improper use of the Bankruptcy Code's Chapter 11 provisions by larger corporations has put companies in similar ...

La Grange, Kentucky-based PylaBricks LLC, also known as Snapology of Louisville, filed for Chapter 7 bankruptcy in the ... That amount is owed to the U.S. Small Business Administration, according ...

Seven-year-old electric vehicle startup Canoo has filed for bankruptcy and will "cease operations immediately." The company ...

It was brought by a Florida creditor trying to settle a $28.5 million debt against Heller’s Blackford ATM Ventures by forcing it into a Chapter 7 bankruptcy liquidation. During a hearing ...

Canoo (GOEV) announced Friday that it has filed a voluntary petition for relief under Chapter 7 of the U.S. Bankruptcy Code. The filing, made ...