When a company files Chapter 7 bankruptcy, it means the brand will be liquidated. That could result in a new beginning, if a new business or operator buys the brand and revives it. In theory, that can happen, but in many cases, the company's assets will be auctioned off. One business might buy its equipment, while another may purchase its brand name. Its intellectual property may even be split up between multiple buyers. A Chapter 7 bankruptcy is definitive, and it's usually a quick process. "Unlike Ch ...

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 ...