Owning a home is something many people aspire to. Being free from the scrutiny of landlords or independent of family members takes on a new meaning after closing day when a new homeowner accepts the keys – and the responsibilities – of a home in Columbia, South Carolina. Whether one has not budgeted properly or has faced a financial crisis, arriving at a payment date without enough funds for the mortgage can be the beginning of a long nightmare.
Columbia, South Carolina seeing reduced foreclosure rates
3 benefits of Chapter 13 bankruptcy
The clutches of overwhelming debt can feel suffocating. You may wake up every day wondering how you could potentially pay off the mountains of unpaid balances that plague you. Unfortunately, even if you earn a regular wage, you may not have the means to handle your debt by simply making minimum monthly payments or attempting other unsuccessful methods. Luckily, more head-on approaches exist of which you could take advantage.
Anchoring 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 many Americans may have a psychological block preventing them from paying down their debt.
Tax 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 are fortunate enough to expect a refund from the IRS. A recent report by JPMorgan Chase Institute reveals what many people do with that tax refund.
Bankruptcy: 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 have a severe impact on even the most financially stable South Carolina families.
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.
