Stoli Group filed to convert two of its U.S. companies from chapter 11 to chapter 7 bankruptcy after the company could not reach a restructuring agreement with its senior lender.

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

*Chapter 7 bankruptcy, also known as “liquidation bankruptcy,” allows people to discharge most unsecured debts. This includes medical bills, payday loans, and credit card balances. A trustee may sell ...

Corporations, limited liability companies (LLCs), and other businesses can file for protection under either Chapter 7 or Chapter 11 of the Bankruptcy Code. While a Chapter 11 bankruptcy can lead to ...

Some retirement accounts have federal bankruptcy protections, but the rules vary by account type and situation.