When faced with considerable debt, many people in South Carolina may feel stress on a daily basis as they work to determine the best way to handle their situation. As someone in this predicament, you may fear that you will never feel financially free and that the loss of property may lie just on the horizon if a lack of payment results in repossession or foreclosure proceedings. However, if you think you have no options for dealing with repossession or other serious effects of financial issues, you may want to think again.
Medical 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 President Trump's advisers once filed for bankruptcy due to mounting medical bills.
Think about credit restoration if you're considering bankruptcy
Who in South Carolina doesn't know what it's like to face financial challenges? More than likely most residents have run into money problems at some time or another, some worse than others. It's astounding really, how a relatively minor money issue can quickly turn into complete financial disaster. All it takes is one unexpected medical emergency, loss of employment or even a joyful event, such as having a baby.
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?
Government sues over South Carolina student loan debt
When the mortgage or rent is due, most people understand the consequences of not paying on time. They risk paying high penalties or even losing their homes altogether. The same may be said of not paying utilities and car payments, the consequences of which include the loss of something essential. When money is tight, people in South Carolina may pay those bills first, opting to push less critical bills, such as student loans, out of their minds for now. However, this may be a serious mistake.
Many in South Carolina consumed by credit card debt
Credit cards have their advantages. They are a convenient way to get the things consumers need or want when they are short of cash. People in South Carolina may use their cards for daily expenses like groceries or eating out, or they may save their available balances for vacations or back-to-school shopping. However, consumer advocates warn that carrying too much credit card debt means risking serious financial consequences.
