Bankruptcy is a significant financial decision that can have lasting implications on your credit score and financial future. While it provides a way for individuals overwhelmed by debt to get a fresh start, it may also come with consequences, particularly for your credit score. Here are some ways that bankruptcy…
Millions of people will face financial challenges and consider filing for bankruptcy at some point in their lives. While the mere idea of filing for bankruptcy might seem stressful, it can restore your finances and let you build a more stable financial foundation for you and your family. The benefits…
Whether you are thinking of filing for a Chapter 7 or Chapter 13 bankruptcy to manage your financial health, your primary goal is to have as much of your debt discharged or wiped out so you can take back control of your finances. Once your debts have been wiped out,…
Hiring a bankruptcy lawyer can be a crucial step when you are facing financial distress and considering filing for bankruptcy. Below are several benefits of seeking professional legal representation in such circumstances. To discuss your specific situation and options, reach out to our bankruptcy lawyer at Reed Law Firm as…
Bankruptcy helps people who are overwhelmed by debt get a handle on the problem by either entering a repayment plan or liquidating assets as a means of repayment. While there is no limit to the number of times a person can file for bankruptcy in their lifetime, there are specific…
A sudden illness or injury that results in a trip to the hospital can significantly hurt your financial health if you do not have the funds to cover the medical bills or health insurance. Unfortunately, millions of Americans are also suffering from medical debt. In fact, a recent study found…
The primary goal of filing for bankruptcy is to give debtors a chance to live their lives and fix their finances without worrying about insurmountable debt. However, many people are concerned about losing property when they file for bankruptcy. Understandably, one of the most commonly asked questions about the bankruptcy…
Creditors, usually through debt collection agencies, are allowed to contact debtors to collect the money they are owed. They cannot employ threatening or deceptive tactics to do so. They cannot also call you whenever or wherever you are. While it is their right to recover the money you owe them,…
People who are planning on filing for Chapter 7 bankruptcy usually question whether or not they can keep their homes and vehicles because these are their most valuable possessions. For most people, yes, they can keep their homes, vehicles, and almost all their property when they file for bankruptcy in…
Filing for bankruptcy can be costly and can significantly affect your credit, but it can also allow you to get a handle on your finances and provide you with a fresh start. Breaking down the cost of declaring bankruptcy allows you to better understand what is involved, and if you…
While bankruptcy information is a matter of public information, this does not mean that everyone you know will automatically be notified that you declared bankruptcy. In fact, the information is generally shared only under limited circumstances and should not affect your interest in obtaining the financial relief you need. An…
If you are considering bankruptcy, your mortgage payments are often a significant concern, and questions about the potential of lowering mortgage payments are common. The good news is that, under some circumstances, it is possible to lower your mortgage payments, and an experienced South Carolina bankruptcy attorney can help. Chapter…
If you are having the kind of financial problems that leave you considering bankruptcy, you have enough stressors to deal with, and the thought of taking on the additional hurdle of going to court may be more than you can handle. However, the bankruptcy process – though legally challenging –…
The idea behind bankruptcy is either discharging all or part of your debt (Chapter 7), which means erasing it altogether or reorganizing your debt in an effort to make it more manageable (Chapter 13). Under certain circumstances, however, you may want to continue paying a debt to retain the asset,…
If you are facing bankruptcy, you can expect it to affect your credit score, but all is not lost. There are steps you can take to limit the effects and to build your credit back up after filing. An experienced South Carolina bankruptcy attorney can not only help you get…
Bankruptcy can give you a new financial lease on life, but it is also a complex legal process that can be daunting. In South Carolina - and elsewhere in the nation - the vast majority of individuals and couples who choose bankruptcy to help them overcome crushing debt and get…
In 2023, 452,990 people filed for bankruptcy in the United States. If you are facing financial hardship, filing for bankruptcy can offer you much-needed relief. Applying for bankruptcy can be overwhelming, with many people questioning if they can keep their home and car if they file. In this article, our…
You have filed all the necessary paperwork, but your bankruptcy has not yet been discharged. You go shopping with your friend and learn that you can get twenty percent off your current purchase if you open a charge card. Considering how great a deal it is, you think there is…
Whether it be due to credit cards, student loans, or a medical emergency, you may be in over your head trying to pay off debt. In some cases, your best option may be to file for debt relief. Bankruptcy has given many people a new lease on life, freeing them…
If you are considering bankruptcy, you may be wondering if you will be left with nothing in your name. This is a misconception that many people have, keeping individuals who could benefit from bankruptcy from getting the help they need. These myths keep hard-working people from getting back on their…
Filing for bankruptcy can afford you a financial do-over that clears the decks for a smoother future, but many people consider it less than honorable. The fact is, however, that those who seek bankruptcy face their own serious consequences, such as taking a significant hit in terms of their credit…
If you find yourself facing crushing debt, filing for bankruptcy can help in a range of ways, and one of these is that it can put an end to all those bill collectors who simply will not leave you alone. When it comes to your debt, you can reach a…
You can discharge most debts when you file for either Chapter 7 or Chapter 13 bankruptcy in South Carolina. There are just some debts that you can’t discharge regardless of which chapter of bankruptcy you file. If you’re considering filing for bankruptcy, it’s in your best interest to speak to…
Yes. Filing for bankruptcy in South Carolina can stop creditors from harassing you. When you file for bankruptcy, the automatic stay will go into effect and stop all creditor collection activities. However, it’s crucial to note that while creditors may persistently attempt to verify or collect debts, they are not…
Yes. You can file for bankruptcy more than once in South Carolina. Most people file for bankruptcy to get a discharge. This is an order that eliminates all qualifying debts. The court grants this order at the conclusion of the debtor’s bankruptcy case. Take note, however, that bankruptcy discharges are…
Having a good credit score prior to filing for bankruptcy means that your credit score could be heavily affected after you file. On the other hand, if you have a poor credit history on various accounts and you have a high debt-to-asset ratio, this means your credit rating is already…
If you are considering bankruptcy, you’re undoubtedly experiencing considerable stress in relation to your finances, and you may have come to the conclusion that bankruptcy is your only hope. Fortunately, it’s not all bad news. The fact is that bankruptcy can stop your creditors from harassing you and from engaging…
While you may be able to keep your home and your car if you file for bankruptcy, there are some important requirements to keep in mind. Further, Chapter 7 and Chapter 13 bankruptcies are structured in different ways, and one or the other may work better for you when it…
If you have grinding debt that leaves you facing grim financial circumstances, bankruptcy can provide you with far more stable financial footing. It is also, however, very likely to negatively impact your credit score. If you’re considering bankruptcy, there’s a good chance that your credit score isn’t doing you any…
Facing overwhelming debt can place strain and stress on virtually every area of your life. If you are struggling with balances that you can no longer manage on your own, you could feel discouraged, assuming that there is no way out for you. Thankfully, debt problems...
If you owe a significant amount of debt, you know that this can impact multiple areas of your life. You will experience the stress and strain that comes from knowing you owe more money than you can pay, and you may not believe that you can ever catch up on your own....
For consumers overwhelmed by debt and past-due balances, it can seem like there may be no way out. Dealing with debt may be an insurmountable issue, which is why many people choose to seek the protection of bankruptcy. This option can provide an applicant with a way...
Owing a significant amount of debt can be a burden on your life. You may find that your financial struggles carry over into other areas, and you could be facing the additional stress of debt collectors, notices from creditors and constant pressure to pay. You might...
There might be few things in life as stressful and harrowing as going through extended periods of monetary unrest. The trials of debt could affect your life in various ways, and while there might be a variety of steps to take to pursue much-needed financial relief,...
Financial challenges can arise under a multitude of scenarios, and sometimes it might not be easy to keep debt at bay. Issues with debt can gradually build with time or seem to appear overnight, and the fallout thereof may have a lingering impact on your life and...
There may be many individuals who have clear goals and ideas about what they want for their futures. Setting long-term goals can be an integral component to helping you pursue important milestones in life. While you might not want to let anything stand in the way of...
Bankruptcy is a tool available to South Carolinians overwhelmed by debt. It can help you and your family get out from under the burden of mounting interest and principal and start fresh. However, bankruptcy itself is not free. Filing fees and credit counseling To...
The pursuit of financial stability is a goal that many individuals in South Carolina may share, but things might not always go as intended. Sources of monetary unrest can come in numerous fashions, each of which may place significant strain on your finances and leave...
