Bankruptcy Compass is an independent, plain-English guide to personal bankruptcy in the US. It explains how Chapter 7 and Chapter 13 work, the means test and the income limits, what each state lets a filer protect, which debts a discharge covers, and what comes after. We cover what bankruptcy is and what it costs, Chapter 7, Chapter 13, the means test and income limits, exemptions by state, debts and the discharge, and life after bankruptcy.
This page is general information, not legal, tax or financial advice, and not a substitute for the advice of an attorney. Bankruptcy law and exemption amounts vary by state and change. Ask a bankruptcy lawyer, legal aid or the court about your situation.
What we do
Bankruptcy is federal law, but much of what matters to a filer is set by the state they live in, and many of the amounts change on a schedule. Every federal dollar amount in the Bankruptcy Code’s exemption list was adjusted for cases filed on or after 1 April 2025: the federal homestead exemption, for example, went from $27,900 to $31,575 (90 FR 8941, read 6 November 2026). Ohio’s statute prints a homestead figure of $125,000, but the amount that applies to cases filed from 1 April 2025 to 31 March 2028 is $182,625 (Ohio Rev. Code 2329.66 and the Southern District of Ohio bankruptcy court’s notice, read 7 November 2026). Much of what is written on these subjects still gives the older figures.
So every amount on this site carries its source, the dates it applies to and the day we read it. Where we could not read a state’s rule in an official source, the page says “not confirmed” and links that state’s own code. Where a page has a sum to work out, such as the means test comparison or a Chapter 13 payment estimate, the calculator shows the arithmetic on numbers you enter. Our how we check page explains where each kind of fact comes from and how we word it. Pages are published under the Bankruptcy Compass name.
What we are not
Bankruptcy Compass is not a law firm, a debt relief agency, a bankruptcy petition preparer, a credit counselling agency, a court or a government agency. We give general information, not legal, tax or financial advice, and nothing here is a substitute for the advice of an attorney. Reading this site, using a calculator or writing to us creates no attorney-client relationship. We have not seen your debts, your income, your property or your court papers. We never say whether you should file, which chapter to choose, whether you qualify, whether a debt will be discharged in your case, what you will keep, what the tax effect will be or whether to reaffirm a debt. Pages explain the rules, what each choice involves and who decides.
How we are funded
Bankruptcy Compass is free to read and is funded by display advertising. Ads may not appear yet while the site is new. Once they run, some may come from lawyers, lenders or other companies that sell to people in debt. An ad is not an endorsement, a referral or a recommendation, and advertisers have no say over what we publish. Nobody pays us anything to read a page or use a calculator.
How we stay independent
- No affiliate links. We earn nothing if you sign up for anything after reading a page.
- No paid placements. Nobody can pay for coverage, a mention or a better position.
- No sold leads. We collect no details to pass on to lawyers, lenders, debt relief companies or anyone else.
- No referrals. We keep no lawyer listings, offer no “free case review” or “free consultation”, and do not recommend or rank lawyers, credit counselling agencies, debt relief or settlement firms, lenders, credit repair companies or filing apps.
- No filing services. We do not prepare petitions, fill in forms for anyone, or sell templates, letters or reports.
That is why our pages can say things a seller might not: that a figure you saw elsewhere is out of date, that a claim about credit scores has no official source behind it, or that bankruptcy is one option among several with real costs on each side.
How pages are checked
Every page gets a fact-check against its sources, separate from the writing. Each page ends with the date its sources were checked. Our editorial policy sets out each step.
Where to start
If you are starting from nothing, what bankruptcy is explains the types and what each does. If you want to compare the two chapters most people use, read Chapter 7 vs Chapter 13. If you want to see how your income compares with your state’s median, the means test calculator does the arithmetic on figures you enter. If you are worried about your house or car, exemptions by state shows each rule we have read, with its statute and dates. If you have a foreclosure sale date, a garnishment or a court paper with a deadline on it, ask a bankruptcy lawyer, the court or a legal aid office now rather than later.
Mistakes and questions
Our corrections page logs what we have fixed, and our contact page says how to reach us. Please read our disclaimer too.
