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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August 2018 Archives

South Carolina consumers can take serious approach to money

Personal finance advisors warn consumers that taking a loose approach to their money issues can lead to serious trouble. It may not seem like a big deal to be charged a late fee occasionally or to overdraw one's checking account, but these may point to signs of dangerous habits that have led many others down the road of overwhelming debt, harassment from creditors and fears of losing their homes. Whether a South Carolina consumer is trying to avoid a financial crisis or recover from one, the first step is to examine the way one handles money.

Medical debt, lower incomes pushing seniors into bankruptcy

The idea of a peaceful retirement in which people stop working and live out their remaining years peacefully is no longer a reality for many. Dwindling incomes and soaring health care costs are creating a financial storm for Americans over the age of 65. Now, bankruptcy because of medical debt is sadly not that uncommon for this group. 

More South Carolina seniors seek Chapter 7 bankruptcy

More and more Americans over the age of 65 are facing financial strife that is leading them into late-life debt, according to studies. The paper, "Graying of U.S. Bankruptcy: Fallout from Life in a Risk Society" contends that increased costs for health care, as well as the reduced income that comes with retirement, are weighing heavily on the over-65 demographic here in South Carolina and elsewhere. As a result, older people are becoming increasingly likely to choose Chapter 7 bankruptcy as a viable way to eliminate this debt in their golden years. 

How to approach credit card debt in South Carolina

Recent studies suggest that American consumer debt has just passed a new milestone, totaling some $13.2 trillion for the 2018 fiscal year. This means that the average South Carolina resident carries debt of over $40,000, including credit card debt, student loans and other forms of debt. This may sound dire, but thankfully, many strategies exist to help those struggling with debt to free themselves from these financial problems.

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