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

How South Carolina customers can handle credit card debt

Debt is a situation that many consumers are faced with. Credit card debt is one of the most difficult to pay off, and many South Carolina customers feel that they will never pay it down. The feeling is very real when only the minimum payment is made. In some instances, a consumer is in such a difficult financial spot that they cannot pay anything.

If someone is unable to pay anything at all, then one strategy is to just be upfront with the credit card company and explain the circumstances. Many customers may not be aware of this, but doing so can be beneficial since there may be other options available for those who are financially tight on funds. Options available may include adjusted payments or a due date extension.

A strategy someone can use if they have some cash on hand is to negotiate with the credit card company. Customers can ask the company to accept a portion of the balance due for the month. Doing this may avoid the outstanding balance from being sent to collections and prevent a missed payment from appearing on their credit report. Even though it normally takes 30 days for the card company to report a late payment on one's credit, it's wise to pay the remaining balance for the month before the time frame passes by.

Having an enormous amount of credit card debt that cannot be paid off can be challenging for most South Carolina consumers. Reducing monthly expenses and increasing someone's income can help decrease the amount owed in outstanding balances, even if they cannot completely pay them off. For consumers who are not able to meet any of their payments and have no other resources, bankruptcy is an option that could get them back on their feet.

Source: nerdwallet.com, What Should You Do If You Can't Make Your Credit Card Payments?, No author, Jan. 18, 2014

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