Reed Law Firm, P.A. is a federally designated debt relief agency. We proudly help people file for bankruptcy relief under the U.S. Bankruptcy Code.
image description
Giving You Hope For a Debt-Free Future

SOUTH CAROLINA
BANKRUPTCY ATTORNEY

South Carolina bankruptcy can happen to anyone

No matter how much wealth someone may possess, bankruptcy can happen to any South Carolina resident. In recent news, a couple who won several million dollars in a lawsuit filed for bankruptcy in federal court. The bankruptcy filing shows assets of over $700,000, but liabilities of $611,000.

Between them, the couple was awarded $20 million in a popcorn lawsuit that the man filed after he developed an irreversible lung condition linked to a chemical flavoring agent he was exposed to while working in a popcorn factory. The chemical flavoring at the heart of the suit is used to give the popcorn a butter aroma and flavor. Doctors testified that it was likely he would need to have a double lung transplant.

The man's case garnered national attention and led to several other settlements from workers within the factory. Detailed terms of the award were not released and it is unknown how much of the judgment actually went to the couple. It is believed that 35 percent of the award went to the law firm that represented the couple and another undisclosed amount went to a fund for other workers at the popcorn plant.

The couple has claimed their home, several acres of land and some personal assets in their filing. Their liabilities were not fully detailed but total over $600,000. Bankruptcy can happen to any South Carolina resident, but it can lead to positive things because it can allow them to gain control of their finances and better manage their debts. Although this story is likely surprising due to the amount of the judgment received years before the eventual Chapter 7 filing, it does illustrate the fact that sometimes debt can overwhelm people, no matter how wealthy people perceive them to be.

Source: Press Republican, "Couple that won $20 million lawsuit files for bankruptcy," Oct. 21, 2012

No Comments

Leave a comment
Comment Information

Contact Us

For more information or to schedule an appointment with an experienced lawyer regarding a bankruptcy filing, please contact us.

image description

COLUMBIA OFFICE
220 Stoneridge Drive,
Suite 301
Columbia, SC 29210
Phone: 803-807-2565
Fax: 803-726-4887
Email | Map & Directions

FLORENCE OFFICE
1807 West Evans Street,
Suite B
Florence, SC 29501
Phone: 843-679-0077
Fax: 843-679-0667
Email | Map & Directions

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

image description

Reed Law Firm, P.A.
220 Stoneridge Drive,
Suite 301

Columbia, SC 29210

Phone: 803-726-4888
Fax: 803-726-4887
Columbia Law Office Map

Reed Law Firm, P.A.
1807 West Evans Street,
Suite B

Florence, SC 29501

Phone: 843-679-0077
Fax: 843-679-0667
Florence Law Office Map

Reed office

‚Äč