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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Posts tagged "Chapter 13"

Chapter 13 bankruptcy can halt foreclosures in South Carolina

Because of pervasive social stigma, many people in South Carolina tend to put off filing for bankruptcy at all costs. However, putting off dealing with insurmountable debt only exacerbates the problem. Bankruptcy can be an incredibly useful tool for people who have no way of digging themselves out of debt alone, and many find that Chapter 13 strikes the right medium for handling their debt.

Many in South Carolina seek Chapter 13 debt relief

Finding a way to keep their heads above water is something many people do often. For some in South Carolina, every paycheck is spent before it is deposited, and paying bills can be a juggling act. If someone's income just barely covers expenses, one unplanned expense can send the budget into a tailspin. This is why consumer advisors recommend having an emergency fund. However, what can people do when the fund is gone -- or, more commonly, if they never had an emergency fund to begin with?

Late payments for Chapter 13 bankruptcy plan

Making the decision to file for bankruptcy is seldom easy. However, if debt is weighing someone down and interfering with one's quality of life, a person in South Carolina may have few alternatives. Filing for Chapter 13 bankruptcy typically results in a court-approved payment plan. If all goes well, within a few years, that person will have a much brighter financial future. However, what happens if the filer is late with a payment?

Chapter 13 helps those struggling in Columbia, South Carolina

Being in debt can make many days feel like one is on a treadmill when going to work to earn a paycheck barely makes a dent in the bills. Creditors have no problem calling people at work or even contacting family members and friends about overdue payments. Fortunately, there are options for those who are struggling with debt. Under some circumstances, a person in Columbia, South Carolina may file for Chapter 13 bankruptcy to stop harassing creditors and start the path to freedom from debt.

What are the signs that it's time for debt relief?

The decision to file for bankruptcy does not often come easily. Someone in South Carolina may wait until all other options are exhausted, such as when the house is in foreclosure or his or her family is ready to fall apart, before realizing the benefits of bankruptcy. While everyone's situation is different, there are some signs that may help a person decide it may be time to consider whether Chapter 7 or Chapter 13 debt relief is the best option.

Which chapter is right for you?

If you hear someone talking about chapter 13, chapter 11 or chapter 7, you might assume the topic is the latest novel on some bestseller list, right? However, if the conversation also includes words such as "creditors" "threat of foreclosure" or "debt relief," then it might not be books but various types of bankruptcy at the center of discussion. It's no secret that many South Carolina residents are among those throughout the nation who have been struggling to get back on their feet after serious economic crisis.

South Carolina family on home makeover show files for bankruptcy

There are a variety of television shows on the air dealing with home renovations and makeovers. In some cases, families facing hardships may even have their homes completely remodeled as part of a show. Unfortunately, many individuals may struggle with the costs of keeping up these new homes and other financial burdens, as was the case for one family in South Carolina.

Bankruptcy info may help South Carolina residents make choices

The differences between the various types of bankruptcy can significantly impact which option may work best for certain individuals. Therefore, South Carolina residents may wish to find out more information on Chapter 7 and Chapter 13 bankruptcy, the two most common forms of personal bankruptcy. Such information could help interested parties determine whether they may qualify for either process and if they would like to move forward.

Exploring bankruptcy may be prudent for South Carolina residents

Having creditors to repay can be a substantial burden for many individuals. The liabilities associated with these creditors could range from small to large amounts, and it is usually those with significant debt that wish to seek assistance in addressing those liabilities. If South Carolina residents are in such a predicament, looking into bankruptcy may be a prudent step. 

South Carolina residents may wonder about debt forgiveness

When individuals are considering bankruptcy, they may wonder how helpful the process could be. South Carolina residents who are facing considerable debt may have a significant chance of getting back on the right financial track if they qualify for Chapter 7 or Chapter 13 bankruptcy. Of course, there are certain debts that may not be eligible for discharge through bankruptcy proceedings. 

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