Chapter 7 bankruptcy offers relief from your debt, but the limitations of this approach can impact your finances.

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. And, that uncertainty makes sense. "Debt relief" is a broad term, and it ...

Many Americans are deep in the red. In fact, household debt hit $18.59 trillion in the third quarter of 2025, according to the Federal Reserve Bank of New York. As people find themselves drowning in ...

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing ...

Are debt relief programs legit? Yes. Debt relief, aka debt settlement or debt resolution, is a legitimate industry that can be helpful to people experiencing certain financial difficulties. However, ...

Debt relief isn’t a quick fix for money problems. The process, also called debt settlement or debt resolution, involves paying a company to negotiate with your creditors in hopes of getting them to ...

When Whitney Catalano filed for Chapter 7 bankruptcy in 2022, she was self-employed, living in an apartment she couldn’t afford and carrying $60,000 in credit card and personal loan debt. For her, ...