Uncertain of what to do or how to resolve the problem, many individuals and families become overwhelmed as their debt burden continues to mount. High interest rates often make it seem impossible to make any headway in reducing the amount owed. While it may seem as if there is no way out, there are a number of financial options available to assist the South Carolina individual or family struggling with debt.
South Carolina families see record cost of credit card debt
Summer vacation, back-to-school shopping, Christmas -- it all adds up. When these events are considered along with the everyday expenses that the typical South Carolina family faces, it can be a struggle to keep ahead financially. Then, when there is an unexpected expense such as a large car repair bill or hospitalization, the family budget may simply not be able to absorb any more. This is where many families turn to credit card debt as a solution.
What does a bankruptcy trustee do?
If you have made the decision to file for bankruptcy, you have likely realized that your financial problems have gone beyond what you can address yourself. Moving forward with bankruptcy can be a useful step for you, and you may find yourself on your way to a more stable financial future. Of course, you may still have many questions regarding the process.
Is Chapter 13 the best bankruptcy option for you?
You are definitely not alone in your struggle if you happen to be employed but have still been having trouble making ends meet. Like most localized economies in the nation, South Carolina has seen its ups and downs in recent years. Just because you currently have a reliable source of income doesn't necessarily mean you have enough to satisfy your debts.
Personal loan debt growing quickly for South Carolina borrowers
Borrowing money is integral to the American way of life. From buying homes to purchasing motor vehicles to acquiring goods and services with a credit card, many daily purchases in South Carolina are based on borrowed money. However, most people think of borrowing money in specialized manners, such as a mortgage or an auto loan. Increasingly popular is the personal loan, an old practice that is now adding to the average consumer's debt.
Medical debt a financial challenge for South Carolina residents
An accident or illness can dramatically change one's financial situation. In addition to the added bills caused by medical debt, it is likely that the South Carolina resident may also be facing a reduction in income. This combination can make it impossible for the individual to meet his or her monthly expenses.
Consumer debt up in South Carolina
Keeping up with rising costs of living on what are often stagnant wages can be difficult during the best of times, but add debt into the mix and the few people may make it out on the other side. Many South Carolina debtors are now struggling with burgeoning household debts in recent years. As non-mortgage debt continues to climb, bankruptcy may be the most sensible option for consumers who are struggling to keep up.
