Kimberly Draxler, a single mom on disability, couldn’t believe it when her mortgage lender confirmed she was on the verge of losing her home in Hillview, Kentucky — with a distress sale just days away. "I did not want to lose my house," Draxler, 57, told CBS News. "I wouldn't have (a) place to go." She had only just learned of the foreclosure when an attorney sent her a letter offering his help in preventing the bank from taking away her home of 30 years. Must Read "They never called me and told me t ...

Chapter 7 bankruptcy will not erase student loans, tax debt, alimony or child support. It is the most common type of bankruptcy, and allows people to keep essential possessions. It typically takes four to six months from filing to discharge.Bankruptcy is an option when you are facing serious financial difficulties. Chapter 7 bankruptcy is a way to legally discharge unsecured debt, such as credit card debt, medical debt and personal loans, by a court order from a bankruptcy court.In a Newsweek report on the ...