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…
Bankruptcy
How Bankruptcy Attorneys in South Carolina Can Help You
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…
Will Bankruptcy Wipe Away My Debts
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,…
Benefits of Hiring a Bankruptcy Attorney in South Carolina
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…
How Often Can I File for Bankruptcy
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…
Can You File Bankruptcy for Medical Bills
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…
In South Carolina, What Property Can I Keep?
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…
How to Make Creditors Stop Calling and Help You Pay Off Debts
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,…
Can I Keep My Home and Car If I File for Chapter 7 Bankruptcy
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…
What Does it Cost to File?
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’s involved, and if you’re interested…
Is Bankruptcy Information Public Information?
While bankruptcy information is a matter of public information, this doesn’t mean that everyone you know will automatically be notified that you’ve declared bankruptcy. In fact, the information is generally shared only under limited circumstances and shouldn’t affect your interest in obtaining the financial relief you need. An experienced South…
Can I Lower My Mortgage Payments if I File for Bankruptcy
If you’re 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 7…
Will I Have to Go to Court?
If you’re 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 – doesn’t…
What is a Reaffirmation Agreement
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,…
Will Bankruptcy Affect My Credit Score
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…
Steps during the Chapter 7 bankruptcy process
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...
What are the benefits and potential drawbacks of bankruptcy?
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....
What is going to happen to your property during bankruptcy?
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...
What will happen to your house if you file for divorce?
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...
Addressing the timeline to finalize bankruptcy filings
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,...
Evaluating recent reports on increases to bankruptcy filings
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...
The possible impact of debt on long-term financial goals
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...
How much does bankruptcy cost? (And can I afford it?)
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...
Creating a strategy to reduce or eliminate credit card debts
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...