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 made available to potential buyers in a short sale auction; yet, no one has come forward to submit a formal offer.
How do I know if bankruptcy is right for me?
Most everyone faces a time when things get tough. A job loss or divorce may drastically reduce your income, or maybe you just overspent on your last vacation. The result may be months of struggling, juggling and scrapping to get by. You may even reach a point where you begin to wonder if you will ever see the light.
Repossession: 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 of repossession.
Can 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 above water. Through Chapter 7, the court assigns a trustee to manage each bankruptcy and determine which assets are exempt or nonexempt. However, recent actions by bankruptcy trustees in another state have many concerned about the security of filers.
South Carolina credit card debt reaches record amounts
Having a credit card in one's wallet may provide a sense of security. What if one has an emergency, runs short of cash or comes across an unbeatable bargain? However, according to new data from the Federal Reserve, many in South Carolina and across the country may be placing themselves in financial jeopardy by carrying a high balance on those credit cards.
Medical debt affects even those in South Carolina with insurance
It may be frustrating for many who struggle to keep their finances in order to hear accusations that they have reached this situation because of their own careless spending. Hearing advice to curb spending sprees and discipline their shopping habits may serve only to increase the stress for someone in South Carolina who is burdened with debt that has little to do with self-indulgence. In fact, medical debt remains the number one reason why Americans file for bankruptcy.
Separating fact from fiction concerning consumer bankruptcy
Many individuals have experienced the overwhelming burdens of debt at some point in life. One of the leading causes of personal debt is credit cards, which may be easy to obtain and use, but if you get behind on payments, you might suddenly find yourself in a significant financial bind.
