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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Giving You Hope For a Debt-Free Future

Bankruptcy need not equal permanent financial crisis

When you realized you were in need of immediate debt relief solutions, you may have felt a bit overwhelmed and worried. You are certainly not the first South Carolina resident to face financial problems; in fact, if you were to say you have never had any money troubles at all, that would likely be a rare exception to the rule. Most people have had to overcome financial challenges at some point in their lives. You may have already bounced back a time or two following financial woes.

If this time has been a bit more challenging, it may be because the economy has taken some serious hits in recent years, or perhaps life threw an unexpected curve ball at you. Maybe you lost your job or had to use all your savings to pay medical bills your insurance did not cover. If you chose bankruptcy as the most viable option for obtaining debt relief, you may wondering what impact it will have on your financial future.

Temporary financial challenges are just that: temporary

Are you among many others in this state who hear the word bankruptcy and think it means there's no turning back or recovering from such circumstances. The fact is, not only might you be able to rebound and get back on track regarding your immediate financial situation, you may wind up enjoying a stronger, more prosperous financial future in the long-run. The following facts might give you hope:

  • How long a bankruptcy remains on your credit record depends on various issues, including which type of bankruptcy you filed.
  • You can begin working toward financial restoration at any time, even if you filed Chapter 7 and bankruptcy information stays on your record for 10 years.
  • Even the smallest financial successes go toward restoring your credit rating, so, as soon as you're able, it's a good idea to create a budget and begin paying bills in a timely manner.
  • If you can open a savings account and keep even a few hundred dollars in it, it's a small but worthwhile emergency fund that can help you if an unexpected need arises.
  • Acquiring a secured credit card is often means for rebuilding a credit score that has been marred by bankruptcy. However much you deposit into the account is your existing credit limit.

You may know someone who would allow you to become an authorized user on his or her credit card as well. This allows you build fiscal responsibility even if you have not yet found a lender who will give you your own account.

The bottom line is that just because you faced a serious financial crisis and filed for bankruptcy to overcome it doesn't necessarily mean you have to throw in the towel on your entire financial future. If you have questions about South Carolina bankruptcy laws or need guidance regarding a particular finance-related legal issue post-bankruptcy, you can reach out for support from an experienced debt relief attorney who is used to helping people address such matters.

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Reed Law Firm, P.A.
220 Stoneridge Drive,
Suite 301

Columbia, SC 29210

Phone: 803-726-4888
Fax: 803-726-4887
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Reed Law Firm, P.A.
1807 West Evans Street,
Suite B

Florence, SC 29501

Phone: 843-679-0077
Fax: 843-679-0667
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