What Happens If My Chapter 13 Bankruptcy Plan Is Dismissed in South Carolina?
Unfortunately, filing for bankruptcy does not always mean that you’ll get the financial relief you need to manage your overwhelming debt. The court may dismiss your bankruptcy case for a range of reasons. If your Chapter 13 bankruptcy plan is dismissed in South Carolina, it’s as if you never filed...
READ MORECan I Pay Off My Chapter 13 Bankruptcy Early?
Maybe. Sometimes you can pay off your Chapter 13 bankruptcy early, but only under specific circumstances. These include paying off everything that you owe or qualifying for a hardship discharge. The reason for this is that the bankruptcy court and the Trustee may not readily allow you to pay off...
READ MOREHow Can I Rebuild My Credit After Filing for Bankruptcy in South Carolina?
You can rebuild your credit after filing for bankruptcy in South Carolina. What many people misunderstand is that, by the time a person considers bankruptcy, most people have a poor credit score already. Rebuilding credit is usually faster after a bankruptcy than if you don’t do anything at all to...
READ MOREWhat Happens If My Chapter 7 Bankruptcy Case is Denied in South Carolina?
If your Chapter 7 bankruptcy case is denied in South Carolina, it means the court reviewed your petition and decided to deny your case because you failed to meet the eligibility requirements for Chapter 7 bankruptcy. What happens after will depend on why your case was denied. However, one thing...
READ MORECan I File For Bankruptcy Without a Lawyer in South Carolina?
Hiring a bankruptcy lawyer is not as expensive as most people fear and that a good bankruptcy lawyer will usually save you a lot more money than it costs by reducing your monthly debt repayment. This does not include the fees to enroll in the required credit counseling course, to...
READ MOREWhat Documents Do I Need to File for Bankruptcy in South Carolina?
Declaring bankruptcy can be stressful and time-consuming, but it is necessary if you cannot afford to pay off your debt. Bankruptcy allows debtors to get creditors off their backs and eventually restore their credit. Most individuals file under Chapter 7 or Chapter 13. Before filing a bankruptcy petition, you will...
READ MOREDo I Have to Appear in Court for a Bankruptcy Hearing in South Carolina?
If you have come to the decision to file bankruptcy, the last thing you want to think about is having to present your case in front of a judge. Although the anxiety of the bankruptcy process can be overwhelming, in many cases, you may not be required to attend a...
READ MOREDo I Need to Live in South Carolina for a Certain Amount of Time to File for Bankruptcy Here?
If you are considering bankruptcy as an individual, you may be able to file under Chapter 7, Chapter 11, or Chapter 13. Your specific financial situation will dictate which chapter you can apply under, with many individuals qualifying for more than one type of bankruptcy. To be eligible to file...
READ MOREWhat Happens if I Miss a Chapter 13 Payment?
Chapter 13 bankruptcy is often referred to as reorganization bankruptcy – or a wage earner’s plan – and it tends to benefit those who have considerable debt but also earn a substantial income. Instead of discharging your debt outright, Chapter 13 restructures your debt into a repayment plan that allows...
READ MOREDifferences between Chapters of Bankruptcy
Bankruptcy is designed to give those who find themselves facing far more debt than they can handle a financial escape route. The laws, however, are complex, and the requirements are exacting. Additionally, there are different forms of bankruptcy to be considered. An experienced Columbia, SC bankruptcy lawyer can help you...
READ MORESouth Carolina Statute of Limitations for Debt
Old debt that can no longer be collected is often referred to as zombie debt. While there is a legal limit when it comes to how long debt collectors can hound you, this doesn’t mean there aren’t unscrupulous sorts out there who don’t let the law get in their way....
READ MOREShould I File for Bankruptcy before or after the Divorce?
Divorce and financial concerns go hand in hand, and if bankruptcy is in the picture, you undoubtedly have questions about when to file. The bottom line is that it depends on the unique circumstances of your case and your situation. Discuss your bankruptcy-related concerns with an experienced Columbia, SC bankruptcy...
READ MORECan I Stop Repossession from Happening?
If you fail to make loan payments on time, a lender may repossess the asset. If you take out an auto loan, it is common to use the vehicle as collateral. As a consumer, it is important that you understand the terms of your loan agreement so that you are...
READ MOREWhat Happens to My Debt After Repossession?
When you sign a loan document, it is crucial that you stay up to date on payments. If you are unable to afford payments, ignoring the problem will not solve anything. In South Carolina, if you fall behind on payments, a creditor is allowed to repossess your property. However, your...
READ MORECan I Get My Repossessed Property Back?
If you have fallen behind on loan payments, any property that you have as collateral could be seized by a bank or other type of financial institution. Your lender is legally required to give you time to “cure” the loan. In simple terms, making your loan current before the property...
READ MOREWill Bankruptcy Discharge My Credit Card Debt?
If you are drowning in credit card debt and considering bankruptcy as a solution, you are naturally wondering if the process will discharge your credit card debt. It’s completely understandable to be concerned about your financial future and to search for answers. At Reed Law Firm, we want to assure...
READ MORECan Creditors Repossess My Property Without Notice in My State?
When you are approved for an auto loan, you will most likely put your vehicle up as collateral. In certain situations, creditors in South Carolina are allowed to repossess property if it is pledged as collateral. If you do not pay the loan, then your lender may be able to...
READ MORECan I Modify My Chapter 13 Repayment Plan After it is Approved?
If you are in a Chapter 13 bankruptcy repayment plan and are struggling to make the payments, you might be seeking any options to modify the plan. Financial circumstances change over time for most people, and it can be overwhelming to think about continuing with a plan that no longer...
READ MOREHow Do I Qualify for Chapter 7 Bankruptcy?
If you are experiencing ongoing financial difficulties with no end in sight, you might be thinking that Chapter 7 bankruptcy can be a solution for you. You are not alone in this, as many people find themselves in a position where they cannot pay their debts and are searching for...
READ MORECan I File Bankruptcy if I Owe Money to the IRS?
Dealing with financial difficulties and debts you cannot pay is extremely stressful, especially when you owe money to the IRS. The thought of filing for bankruptcy might have crossed your mind as a possible solution to your debt problems, but you may be wondering if it is even possible to...
READ MOREHow does bankruptcy affect my credit score, and how long will it stay on my record?
If you have grinding debt that leaves you facing grim financial circumstances, bankruptcy can provide you with far more stable financial footing. It is also, however, very likely to negatively impact your credit score. If you’re considering bankruptcy, there’s a good chance that your credit score isn’t doing you any...
READ MORECan I keep my home and car if I file for bankruptcy?
While you may be able to keep your home and your car if you file for bankruptcy, there are some important requirements to keep in mind. Further, Chapter 7 and Chapter 13 bankruptcies are structured in different ways, and one or the other may work better for you when it...
READ MOREWill Bankruptcy Stop Creditor Harassment and Collection Actions?
If you are considering bankruptcy, you’re undoubtedly experiencing considerable stress in relation to your finances, and you may have come to the conclusion that bankruptcy is your only hope. Fortunately, it’s not all bad news. The fact is that bankruptcy can stop your creditors from harassing you and from engaging...
READ MOREHow Does Bankruptcy Affect My Credit Score in South Carolina?
Having a good credit score prior to filing for bankruptcy means that your credit score could be heavily affected after you file. On the other hand, if you have a poor credit history on various accounts and you have a high debt-to-asset ratio, this means your credit rating is already...
READ MOREWhat Is Repossession and When Can It Occur?
When you purchase a car with a car loan, the loan document is very likely to include terms that address the consequences you’ll face if you fail to make your payments in accordance with the schedule included. The collateral on your car loan is the vehicle itself, and when the...
READ MORECan I File for Bankruptcy More Than Once in South Carolina?
Yes. You can file for bankruptcy more than once in South Carolina. Most people file for bankruptcy to get a discharge. This is an order that eliminates all qualifying debts. The court grants this order at the conclusion of the debtor’s bankruptcy case. Take note, however, that bankruptcy discharges are...
READ MORECan I Stop Creditors From Harassing Me If I File for Bankruptcy in South Carolina?
Yes. Filing for bankruptcy in South Carolina can stop creditors from harassing you. When you file for bankruptcy, the automatic stay will go into effect and stop all creditor collection activities. However, it’s crucial to note that while creditors may persistently attempt to verify or collect debts, they are not...
READ MOREWhat Is a Loan Modification?
If you’re ready to take advantage of a lower interest rate, refinancing likely comes to mind, but if you’re having trouble making your mortgage payments, a loan modification can serve a similar purpose and comes with unique benefits. The better you understand the process, the better prepared you’ll be to...
READ MOREWhat Debts Can Be Discharged Through Bankruptcy in South Carolina?
You can discharge most debts when you file for either Chapter 7 or Chapter 13 bankruptcy in South Carolina. There are just some debts that you can’t discharge regardless of which chapter of bankruptcy you file. If you’re considering filing for bankruptcy, it’s in your best interest to speak to...
READ MORECan I Erase My Student Loans by Filing?
Filing for bankruptcy comes with many benefits for those facing a debt load that they’re unlikely to overcome without assistance. There are certain kinds of debt, however, that generally can’t be included in bankruptcy filings, and while student loans used to fall into this category, this has changed somewhat. To...
READ MORECan Filing Stop Bill Collectors from Calling
If you find yourself facing crushing debt, filing for bankruptcy can help in a range of ways, and one of these is that it can put an end to all those bill collectors who simply will not leave you alone. When it comes to your debt, you can reach a...
READ MORECan I Be Discriminated Against for Filing for Bankruptcy
Filing for bankruptcy can afford you a financial do-over that clears the decks for a smoother future, but many people consider it less than honorable. The fact is, however, that those who seek bankruptcy face their own serious consequences, such as taking a significant hit in terms of their credit...
READ MORECan I Own Anything After Bankruptcy?
If you are considering bankruptcy, you may be wondering if you will be left with nothing in your name. This is a misconception that many people have, keeping individuals who could benefit from bankruptcy from getting the help they need. These myths keep hard-working people from getting back on their...
READ MOREWhat Can Bankruptcy Do for Me?
Whether it be due to credit cards, student loans, or a medical emergency, you may be in over your head trying to pay off debt. In some cases, your best option may be to file for debt relief. Bankruptcy has given many people a new lease on life, freeing them...
READ MORECan I Get Credit Cards During Bankruptcy?
You have filed all the necessary paperwork, but your bankruptcy has not yet been discharged. You go shopping with your friend and learn that you can get twenty percent off your current purchase if you open a charge card. Considering how great a deal it is, you think there is...
READ MOREWhat Will Happen to My Home and Car if I File for Bankruptcy?
In 2023, 452,990 people filed for bankruptcy in the United States. If you are facing financial hardship, filing for bankruptcy can offer you much-needed relief. Applying for bankruptcy can be overwhelming, with many people questioning if they can keep their home and car if they file. In this article, our...
READ MOREWhat Are My Options If The Bank is Going to Take My Car
If you have missed one or two auto loan payments, don’t panic just yet. You have options to stop the bank from repossessing your car. However, you need to act quickly. Whether you don’t have the funds to pay the full amount or simply forgot to send your payment, exploring...
READ MOREWhat to Do If Your Car is Repossessed?
If you finance a car purchase with a loan, you will sign a contract stating that your car serves as collateral for your loan. That means that if you fail to make your payments on time, your lender has the right to repossess your car. Your lender may sell your...
READ MOREAre There Any Benefits of Going Through Foreclosure
While the prospect of a foreclosure can be daunting, it can offer some benefits to struggling homeowners. For one, foreclosure can overhaul your finances. In some cases, losing something just might be the thing you need to fix your financial situation. For many homeowners, the costs of daily living and...
READ MOREHow Can Reed Law Firm Help Me Keep My House
Foreclosures are complicated and frightening for homeowners. Discussing your situation with an experienced South Carolina foreclosure attorney right away, even before the foreclosure process starts, will help make sure you have more options to choose from. For example, your attorney can help you negotiate with your lender so you can...
READ MOREWhat Different Types of Bankruptcy Should I Consider
Bankruptcy can give you a new financial lease on life, but it is also a complex legal process that can be daunting. In South Carolina - and elsewhere in the nation - the vast majority of individuals and couples who choose bankruptcy to help them overcome crushing debt and get...
READ MOREWho Can Evict You from Your Home?
South Carolina has exacting laws in place regarding the eviction process, and knowing your legal rights as a tenant is key to protecting them. If you have been threatened with eviction or fear that an eviction notice may be coming your way, seek the skilled legal guidance of an experienced...
READ MOREHow Do I Make My Car Loan More Affordable
Car loans are notoriously complex, and some sellers are less than forthright about the loans they sponsor. If you are having a hard time keeping up with your car payments, there are things you can do to help you get a better handle on the situation – and to help...
READ MOREWill Bankruptcy Affect My Credit Score
If you are facing bankruptcy, you can expect it to affect your credit score, but all is not lost. There are steps you can take to limit the effects and to build your credit back up after filing. An experienced South Carolina bankruptcy attorney can not only help you get...
READ MOREWhat is a Reaffirmation Agreement
The idea behind bankruptcy is either discharging all or part of your debt (Chapter 7), which means erasing it altogether or reorganizing your debt in an effort to make it more manageable (Chapter 13). Under certain circumstances, however, you may want to continue paying a debt to retain the asset,...
READ MOREWill I Have to Go to Court?
If you are having the kind of financial problems that leave you considering bankruptcy, you have enough stressors to deal with, and the thought of taking on the additional hurdle of going to court may be more than you can handle. However, the bankruptcy process – though legally challenging –...
READ MORECan I Lower My Mortgage Payments if I File for Bankruptcy
If you are considering bankruptcy, your mortgage payments are often a significant concern, and questions about the potential of lowering mortgage payments are common. The good news is that, under some circumstances, it is possible to lower your mortgage payments, and an experienced South Carolina bankruptcy attorney can help. Chapter...
READ MOREHow Many Credit Cards Are Too Many?
While there is no magic number that translates to the perfect number of credit cards, you can definitely stretch yourself - and your finances - too thin. When it comes to credit cards, the most important considerations are your income, your spending habits, and your ability to pay your bills...
READ MOREIs Bankruptcy Information Public Information?
While bankruptcy information is a matter of public information, this does not mean that everyone you know will automatically be notified that you declared bankruptcy. In fact, the information is generally shared only under limited circumstances and should not affect your interest in obtaining the financial relief you need. An...
READ MORECan Chapter 13 Stop Foreclosure?
Foreclosure generally relates to homeowners who have fallen seriously behind with their mortgage payments, which can mean being many months behind. Facing a foreclosure is not only financially devastating but also tends to pack an emotional wallop that can be difficult to overcome. The fact is, however, that - under...
READ MOREWhat Does it Cost to File?
Filing for bankruptcy can be costly and can significantly affect your credit, but it can also allow you to get a handle on your finances and provide you with a fresh start. Breaking down the cost of declaring bankruptcy allows you to better understand what is involved, and if you...
READ MOREWhat Happens if You Exceed Your Credit Card Limit
Credit cards can expand your economic reach and provide you with a level of economic security in the face of the unknown. Credit cards, however, can also lead to financial trouble, and exceeding your credit limit is a prime example. If you are facing concerns related to a credit card...
READ MOREWhat Is Loan Forgiveness?
Student loans can play a very important role in your education, your career, and your overall earning power. Because life is difficult to predict, however, the debt load associated with student loans can prove difficult to bear. In some instances, loan forgiveness is a possibility that is well worth exploring....
READ MORECan I Keep My Home and Car If I File for Chapter 7 Bankruptcy
People who are planning on filing for Chapter 7 bankruptcy usually question whether or not they can keep their homes and vehicles because these are their most valuable possessions. For most people, yes, they can keep their homes, vehicles, and almost all their property when they file for bankruptcy in...
READ MOREWhat is Foreclosure in South Carolina
Foreclosure is among the most devastating things that can happen to many families. Put simply, foreclosure happens when a homeowner cannot keep up with their mortgage payments. Consequently, they will lose their home and get evicted by their lender. The proceeds the lender receives from the sale of the home...
READ MOREWhat Are Options for Paying Off Student Debt
Obtaining a degree is an excellent investment in your career and your future, but doing so often comes with considerable debt. If you’re overwhelmed by student loan debt and wondering what – if anything – you can do about it, you’ll be heartened to know that a range of options...
READ MOREHow to Make Creditors Stop Calling and Help You Pay Off Debts
Creditors, usually through debt collection agencies, are allowed to contact debtors to collect the money they are owed. They cannot employ threatening or deceptive tactics to do so. They cannot also call you whenever or wherever you are. While it is their right to recover the money you owe them,...
READ MOREIn South Carolina, What Property Can I Keep?
The primary goal of filing for bankruptcy is to give debtors a chance to live their lives and fix their finances without worrying about insurmountable debt. However, many people are concerned about losing property when they file for bankruptcy. Understandably, one of the most commonly asked questions about the bankruptcy...
READ MORECan You File Bankruptcy for Medical Bills
A sudden illness or injury that results in a trip to the hospital can significantly hurt your financial health if you do not have the funds to cover the medical bills or health insurance. Unfortunately, millions of Americans are also suffering from medical debt. In fact, a recent study found...
READ MOREHow Often Can I File for Bankruptcy
Bankruptcy helps people who are overwhelmed by debt get a handle on the problem by either entering a repayment plan or liquidating assets as a means of repayment. While there is no limit to the number of times a person can file for bankruptcy in their lifetime, there are specific...
READ MOREBenefits of Hiring a Bankruptcy Attorney in South Carolina
Hiring a bankruptcy lawyer can be a crucial step when you are facing financial distress and considering filing for bankruptcy. Below are several benefits of seeking professional legal representation in such circumstances. To discuss your specific situation and options, reach out to our bankruptcy lawyer at Reed Law Firm as...
READ MOREWhat is a Student Loan Management Program
Student loans are excellent investments for your future. However, they can also be a massive burden if you end up struggling to pay them. Just ask the millions of people in the U.S. who are also struggling with their student loan debts. You can regain control of your finances and...
READ MOREWill Bankruptcy Wipe Away My Debts
Whether you are thinking of filing for a Chapter 7 or Chapter 13 bankruptcy to manage your financial health, your primary goal is to have as much of your debt discharged or wiped out so you can take back control of your finances. Once your debts have been wiped out,...
READ MOREHow Bankruptcy Attorneys in South Carolina Can Help You
Millions of people will face financial challenges and consider filing for bankruptcy at some point in their lives. While the mere idea of filing for bankruptcy might seem stressful, it can restore your finances and let you build a more stable financial foundation for you and your family. The benefits...
READ MOREWhat is Foreclosure
If you fail to make your monthly mortgage payments for 120 days or more, your lender or their servicer can initiate a foreclosure. This legal process will give your lender the power to sell your home. They will use the proceeds from the sale as repayment for your loan. Most...
READ MORECan I keep credit cards while filing for bankruptcy?
The ability to keep credit cards while filing for bankruptcy depends on several factors, including the type of bankruptcy you’re filing, the terms of your credit card agreements, and the discretion of the bankruptcy court. Below is a breakdown of the key considerations regarding bankruptcy and credit cards. For personalized...
READ MOREHow Will Bankruptcy Affect My Credit Score?
Bankruptcy is a significant financial decision that can have lasting implications on your credit score and financial future. While it provides a way for individuals overwhelmed by debt to get a fresh start, it may also come with consequences, particularly for your credit score. Here are some ways that bankruptcy...
READ MOREYour Rights and Protections Regarding Medical Collections
Dealing with medical debt can be an overwhelming and stressful experience. Fortunately, South Carolina has laws and regulations in place to protect consumers from aggressive or unfair medical collections practices. Understanding your rights and protections regarding medical collections in South Carolina can help you navigate this challenging situation with confidence....
READ MOREPossible concerns of entering retirement with high levels of debt
If you are approaching retirement, you may have spent years preparing and saving for this stage of your life, and you might not want to let anything disrupt your plans for your future. However, things might not always turn out as intended, and it might be challenging to reach this...
READ MORESteps during the Chapter 7 bankruptcy process
Facing overwhelming debt can place strain and stress on virtually every area of your life. If you are struggling with balances that you can no longer manage on your own, you could feel discouraged, assuming that there is no way out for you. Thankfully, debt problems are not insurmountable when...
READ MOREWhat are the benefits and potential drawbacks of bankruptcy?
If you owe a significant amount of debt, you know that this can impact multiple areas of your life. You will experience the stress and strain that comes from knowing you owe more money than you can pay, and you may not believe that you can ever catch up on...
READ MOREWhat is going to happen to your property during bankruptcy?
For consumers overwhelmed by debt and past-due balances, it can seem like there may be no way out. Dealing with debt may be an insurmountable issue, which is why many people choose to seek the protection of bankruptcy. This option can provide an applicant with a way to deal with...
READ MOREWhat will happen to your house if you file for divorce?
Owing a significant amount of debt can be a burden on your life. You may find that your financial struggles carry over into other areas, and you could be facing the additional stress of debt collectors, notices from creditors and constant pressure to pay. You might feel like you cannot...
READ MOREAddressing the timeline to finalize bankruptcy filings
There might be few things in life as stressful and harrowing as going through extended periods of monetary unrest. The trials of debt could affect your life in various ways, and while there might be a variety of steps to take to pursue much-needed financial relief, choosing a path can...
READ MOREEvaluating recent reports on increases to bankruptcy filings
Financial challenges can arise under a multitude of scenarios, and sometimes it might not be easy to keep debt at bay. Issues with debt can gradually build with time or seem to appear overnight, and the fallout thereof may have a lingering impact on your life and leave you with...
READ MOREThe possible impact of debt on long-term financial goals
There may be many individuals who have clear goals and ideas about what they want for their futures. Setting long-term goals can be an integral component to helping you pursue important milestones in life. While you might not want to let anything stand in the way of your dreams, things...
READ MOREHow much does bankruptcy cost? (And can I afford it?)
Bankruptcy is a tool available to South Carolinians overwhelmed by debt. It can help you and your family get out from under the burden of mounting interest and principal and start fresh. However, bankruptcy itself is not free. Filing fees and credit counseling To start with, both Chapter 7 bankruptcy...
READ MORECreating a strategy to reduce or eliminate credit card debts
The pursuit of financial stability is a goal that many individuals in South Carolina may share, but things might not always go as intended. Sources of monetary unrest can come in numerous fashions, each of which may place significant strain on your finances and leave you in search of ways...
READ MOREAddressing your options when facing extensive student loan debts
The dream of pursuing higher education is a goal that many individuals in South Carolina share, and obtaining financial aid may often be a necessary component of this equation. However, while a college education may help improve your career opportunities, getting your dream job might not happen overnight. While you...
READ MOREForeclosure remains a concern for many after the moratorium ends
While owning a home might be one of your long-term goals in life, it can also be a demanding endeavor that can carry a great deal of responsibility. Even if you can manage mortgage payments initially, should circumstances in life leave you facing substantial financial challenges, the fallout may prove...
READ MORECertain fears about the bankruptcy process may be unnecessary
While it is no secret that fear can be a powerful motivator, allowing such an emotion to influence your decisions might not always prove favorable. In some cases, fear may even be an unnecessary response, as it may simply stem from prevalent myths or even misinformation about how a process will unfold. ...
READ MOREKnowing your rights when dealing with a debt collection agency
Going through periods of financial unrest can be a harrowing process, and similar concerns can affect your life in various ways. One of the most imposing aspects of financial struggles could involve dealing with constant phone calls and letters from various collection agencies. Although there are rules and regulations that...
READ MOREThe link between bankruptcy and medical debt
Many people equate financial trouble with a dire monetary collapse. In truth, a significant number of Americans are one or two unexpected expenditures away from debt challenges. These unexpected expenses could be related to home repair or medical bills. Additionally, life events such as job loss or divorce can send...
READ MOREHow to successfully conquer holiday debt
Every year, most Americans anticipate spending hundreds of dollars on gifts, celebrations and food during the holiday season. However, 2020 will be the biggest year for holiday spending as sales grow rapidly for the holidays. According to a survey from Magnify Money, the average person racks up $1,325 throughout November...
READ MORENew rules give debt collectors more ways to harass you
A new rule by the Consumer Financial Protection Bureau (CFPB) - which was initially created to protect consumers - tilts the playing field in favor of debt collection agencies. Under the new rule, finalized Nov. 4, bill collectors can contact you not just by phone but also by email, text...
READ MOREWhy do credit cards remain a common cause of financial hardships?
In an age in which convenience is a priority, you may be hard-pressed to find many others who do not carry at least one credit card. Similar lines of credit may offer you additional avenues of purchasing power, and it could also seem essential to keep a card on hand...
READ MORECan I keep my car after filing bankruptcy in South Carolina?
One common reason that people want to avoid bankruptcy is the prospect of losing their possessions. Among those they are most afraid of giving up is their vehicle, since getting to work and other places is difficult without it. If you find yourself needing to file bankruptcy, you likely have...
READ MOREYou can rebuild your credit after filing for bankruptcy.
Depending on the chapter of bankruptcy, your bankruptcy filing will be on your credit report for up to a decade after filing. This leads many to believe that bankruptcy will do permanent damage to their credit score and that their credit score will cut them off from future home loans...
READ MORENorth Carolina church pays off $2 millions of residents’ medical debt
For many people who are just getting by, a medical emergency is more than a potentially life-threatening event. If you do not have health insurance or your insurance is not enough, you could be facing thousands of dollars in bills. A 911 call can lead to an ambulance ride to...
READ MORECan bankruptcy now discharge student loan debt? It's not that simple
It is not often a bankruptcy court ruling makes national headlines. Yet one recent case involving student loan debt did just that, with words from the judge offering a glimmer of opportunity for the countless individuals saddled with such loans. In the case, a chief U.S. bankruptcy judge in Manhattan...
READ MOREHow does the means test work?
Before you file for a Chapter 7 bankruptcy, you will need to show the court you qualify for relief from your debt. One of the main ways you can show this is with the means test. This assessment will measure how much your income compares to your expenses. Since a...
READ MOREYour public service loan forgiveness was declined. What now?
Recently, National Public Radio obtained a report from the Government Accountability Office (GAO), a governmental watchdog agency. It was a review of the Temporary Expanded Public Service Loan Forgiveness (TEPSLF) program, which Congress created last year to make it easier and more straightforward to apply for public service-based student loan...
READ MOREWhat does the promise of student loan forgiveness for vets mean?
Last week, President Trump signed a directive to the Department of Education ordering it to “eliminate every penny of federal student loan debt” for American vets who are totally and permanently disabled. This could be a great relief to disabled vets who have been struggling to pay their student loans...
READ MOREHow do I prepare for a wage earner’s plan filing?
Those who are struggling with debts while earning a significant income are usually overwhelmed by complex cashflow issues. For them, selling their assets may not be necessary because they have a sufficient income to pay off their debts. However, the high-interest rates and constant creditor action can be hindering the...
READ MOREWhat to think about before filing for bankruptcy
Dealing with credit card debts can be an extremely painful experience, and you may feel that the only way you can escape the constant pressure of debt is by filing for bankruptcy. While bankruptcy can be a great way to help you gain a fresh financial start, there are other...
READ MOREWill filing for bankruptcy affect your housing and employment?
For whatever reason, you find yourself struggling with an overwhelming amount of debt. You can no longer meet your financial obligations, and creditors are calling. Perhaps you are exploring the possibility of filing for Chapter 7 bankruptcy, but you have concerns about how it could affect your life. While there...
READ MOREWays to tackle medical debt
Going through an illness or suffering from an injury can be stressful in itself. But knowing that the treatment that you are gaining is causing you to acquire a mountain of debt can be enough to affect your mental health and your enjoyment of life. No one should have to...
READ MOREThe link between foreclosure and health
Facing foreclosure can be an extremely stressful time in a person’s life. If you are struggling with financial difficulties, you may feel that you have little to no control over the situation, and you may dread the day when you receive further communication from your creditor. Studies have looked into...
READ MOREAre there benefits to going through foreclosure?
Struggling financially and living beyond your means can feel very stressful, and you may spend a significant amount of time thinking about how you can get yourself out of the situation you are in. If you have been missing your mortgage repayments, you may also have received threats of foreclosure...
READ MOREHiding from repossession can double your trouble
Your vehicle is an important part of your life. More than a convenience, your car gets you to and from work, allows you to keep your appointments, and provides a way to transport your family to the places they need to be. Without your vehicle, you may have no choice...
READ MOREPutting an end to wage garnishment
Being subject to wage garnishment can be extremely demotivating and distressing. It can feel as though you do not have autonomy in your life because you are working only to have wages taken from you in order to pay off debt. Wage garnishment measures are generally only put in place...
READ MORECan I file for bankruptcy twice (or three times, or four…)?
It may surprise (or relieve) you to learn that filing for personal bankruptcy is not a one-time-only event. If you have used Chapter 7 or Chapter 13 bankruptcy in the past to get a handle on your debt and find yourself overwhelmed by debt again, you could be eligible to...
READ MOREAvoiding the trap of payday loans
A payday loan is a general term that refers to high-cost, short-term loans. These types of loans typically fall under the $500-range. You usually owe back the amount of that loan on your next payday. Most payday loans share similar features: They are typically small amounts, in the form of...
READ MOREShould you reconsider taking a payday loan?
When you face financial hardship, it is natural to try to fix the issue as soon as possible. No one wants to suffer from financial stress and continuous worry. You may be considering taking out a payday loan as a quick cure for this financial ailment. A payday loan is...
READ MOREChapter 13 bankruptcy may be solution for South Carolina resident
Financial struggles are a concern for many South Carolina residents. For some, the loss of income, a medical crisis or some other catastrophe has left them unable to pay their bills. For others, there is income; however, it is not enough to keep up with everything that they owe each...
READ MORESouth Carolina bankruptcy does not always equal foreclosure
A sudden job loss or health concern can quickly alter one’s financial picture. One day the South Carolina family is living comfortably in their home, bills are being paid and there is even money left over to enjoy the occasional splurge. The next day, tragedy strikes and the family’s financial...
READ MOREJoey Lawrence files for bankruptcy after decrease in income
Many people think that money makes the world go round, and unfortunately, they are often not wrong. In order to carry out tasks, meet basic needs and attend to many of life’s obligations, money is needed. However, financial stability can be difficult to come by, and individuals who are struggling...
READ MOREScam businesses took millions from debtors in South Carolina
Student loans are an ongoing problem, and it does not look as if they are going anywhere soon. With trillions of dollars in student loans, people in South Carolina and across the rest of the United States are understandably eager for a solution. Unfortunately, many student loan debtors were taken...
READ MORECredit card debt carries heavy burden in South Carolina
Credit cards often seem like a lifeline when people in South Carolina have trouble making ends meet. While lines of credit can be invaluable tools for building a credit report or making sure there is food on the table, they can also impose a heavy burden. As household debt recently...
READ MOREFormer posh, now defunct resort headed to foreclosure
A creditor appears to be holding all the cards regarding a South Carolina luxury resort that was created by Citadel graduate and author Pat Conroy in the 1980s. The resort is said to currently hold a mere $18 in its bank account. The foreclosure process was initially paused and the property...
READ MORERepossession: More than just your car could be at risk
Many South Carolina consumers struggle with debt, and for some, these financial struggles can become a serious issue. You may have a significant amount of debt, and your situation may be at the point where you find yourself dealing with harassment from creditors and other issues, such as the threat...
READ MORECan Chapter 7 trustees request passwords to filer accounts?
Filing for bankruptcy is rarely a pleasant experience, but the hope of relief from debt makes the effort worthwhile for many. Chapter 7 bankruptcy offers the chance to have many unsecured debts discharged, providing a fresh start for those in South Carolina who have been struggling to keep their heads...
READ MOREMedical debt can burden anyone in South Carolina
It is not always the working class who find themselves losing control of their finances. In many cases, even those in South Carolina who have health insurance and financial resources may face desperate times if a chronic or serious illness leaves them with overwhelming medical debt. In fact, one of...
READ MOREAnchoring on minimum payment prolongs credit card debt
Credit card debt is one of the most common financial burdens for people in South Carolina and across the country. In fact, statistics show that the average family carries a credit card balance of about $16,000. This may be spread over multiple cards. More startling is new research showing that...
READ MORETax refunds pay medical debts in Columbia, South Carolina
Few people look forward to tax time. After following the formulas and figuring out the bottom line, or paying someone to do the figuring for them, many people have the unhappy chore of writing the government a check for the taxes they owe. However, some taxpayers in Columbia, South Carolina...
READ MOREBankruptcy: A lifesaver for those drowning in medical debt
Are you drowning in medical debt? If the frequency and cost of the medical bills that are filling your mailbox after a prolonged illness or emergency are overwhelming, you are not alone. Even those with health insurance find that the cost of health care is steep, and that cost could...
READ MOREPayday loans hurt more than they help
Money struggles are an issue for many South Carolina residents. Living paycheck to paycheck simply seems to be the norm these days. What happens, though, when funds run out before the next payday? Quite a few people tend to turn to payday loans, but in the end find that they...
READ MOREForeclosure defense attorney may prevent loss of home in Columbia
When people gather around a settlement table to purchase a new house, they are usually excited at the thought of spending the coming years fixing it up, raising a family and making it a home. The thought of needing a Columbia, South Carolina, foreclosure defense attorney may rarely come to...
READ MORESouth 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...
READ MORECan I get my car back after repossession?
It can come as a shock: You go to where you parked your car at home or at work, and it’s not there. Later you find out the creditor has repossessed the vehicle because you were behind on payments. Can you get the car back? In many cases, you can-possibly...
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