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.
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Giving You Hope For a Debt-Free Future

SOUTH CAROLINA
BANKRUPTCY ATTORNEY

Debt relief is possible for recent grads

As many graduates are realizing, the working world of 2013 is somewhat more challenging than it has been in the past. In a difficult economy, seeking debt relief can be vital to South Carolina students entering adult life with considerable school and other debt. Thankfully, there are options available to students feeling the weight to help lighten the load and give them a fresh start in their new lives.

According to studies, the majority of American students are graduating carrying an average of $35,200 in school-related debt including tuition, books and residence. This does not count money owed privately to family members or in an official capacity to credit card companies. Eliminating debt at this juncture and building a reputable credit history is integral to putting the right foot forward into adult life, as credit scores can be negatively affected by carrying so-called "bad debt".

Experts suggest that creating a feasible budget for day-to-day life that includes both short- and long-term goals is the first step toward financial health. It is also important to consider which debts are best to pay down first on a limited budget -- many experts believe private student loans are a good place to start. Determining whether to approach debt repayment in small or large increments is very much a personal choice based on spending habits and lifestyle, but there are benefits and drawbacks to both. It is recommended that new grads seek support in planning their finances moving forward from graduation.

Of course, these tips may not be relevant to every new grad, some of whom are facing higher volume of debt than others. Thankfully, debt relief is available to South Carolina students facing larger-than-average debt in a variety of ways. Debt restructuring and bankruptcy options can help to clear the slate and give grads a fresh start as they embark on their adult lives.

Source: Fox Business, "How Grads Should Prioritize Their Debt Repayment," Emily Driscoll, July 15, 2013

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

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220 Stoneridge Drive,
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Columbia, SC 29210
Phone: 803-807-2565
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Florence, SC 29501
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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

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