Chapter 7 | Reed Law Firm, P.A. https://www.reedlawsc.com Columbia SC Bankruptcy Lawyer | Florence Debt Relief Attorney South Carolina Tue, 10 Nov 2020 20:33:49 +0000 en-US hourly 1 https://wordpress.org/?v=6.2.2 https://www.reedlawsc.com/wp-content/uploads/sites/1201465/2019/08/cropped-favicon-32x32.png Chapter 7 | Reed Law Firm, P.A. https://www.reedlawsc.com 32 32 New rules give debt collectors more ways to harrass you https://www.reedlawsc.com/blog/2020/11/new-rules-give-debt-collectors-more-ways-to-harrass-you/ Mon, 09 Nov 2020 19:06:18 +0000 https://3130060-fork.findlaw2.flsitebuilder.com/?p=48600 A new rule by the Consumer Financial Protection Bureau (CFPB) - which was initially created to protect consumers - tilts the playing field in favor of debt collection agencies. Under the new rule, finalized Nov. 4, bill collectors can contact you not just by phone but also by email, text message or social media. They can also target you more…

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]]> You can rebuild your credit after filing for bankruptcy. https://www.reedlawsc.com/blog/2020/07/you-can-rebuild-your-credit-after-filing-for-bankruptcy/ Tue, 14 Jul 2020 19:13:43 +0000 https://3130060-fork.findlaw2.flsitebuilder.com/?p=48540 Depending on the chapter of bankruptcy, your bankruptcy filing will be on your credit report for up to a decade after filing. This leads many to believe that bankruptcy will do permanent damage to their credit score and that their credit score will cut them off from future home loans and other opportunities. Is it possible to rebuild your credit…

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]]> How does the means test work? https://www.reedlawsc.com/blog/2020/01/how-does-the-means-test-work/ Thu, 16 Jan 2020 19:45:04 +0000 https://3130060-fork.findlaw2.flsitebuilder.com/?p=47998 Before you file for a Chapter 7 bankruptcy, you will need to show the court you qualify for relief from your debt. One of the main ways you can show this is with the means test. This assessment will measure how much your income compares to your expenses. Since a Chapter 7 filing will wipe away much of your debt,…

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]]> What property can I keep if I file for Chapter 7 bankruptcy? https://www.reedlawsc.com/blog/2019/09/what-property-can-i-keep-if-i-file-for-chapter-7-bankruptcy/ Thu, 19 Sep 2019 18:51:09 +0000 https://3130060-fork.findlaw2.flsitebuilder.com/?p=47780 Debt can be a significant source of stress for those who struggle with it. There can be calls from creditors, threats of foreclosure and difficulty paying for life’s necessities. Luckily, the US government offers a way to escape from that: bankruptcy. Chapter 7 is one of several methods of filing for bankruptcy. This method pays off debts by selling your…

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]]> Modifying my mortgage in a Chapter 7 bankruptcy https://www.reedlawsc.com/blog/2019/06/modifying-my-mortgage-in-a-chapter-7-bankruptcy/ Fri, 28 Jun 2019 05:00:00 +0000 https://3130060-fork.findlaw2.flsitebuilder.com/blog/2019/06/modifying-my-mortgage-in-a-chapter-7-bankruptcy/ Chapter 7 bankruptcies are a popular choice for individuals and couples who are facing overwhelming debts. Filing for bankruptcy under Chapter 7 can help debtors tackle their financial issues in a matter of months, helping them to gain a complete fresh start. Although there are countless advantages to filing for Chapter 7 bankruptcy, there is one significant drawback. Homeowners who…

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]]> What is the Chapter 7 means test? https://www.reedlawsc.com/blog/2019/05/what-is-the-chapter-7-means-test/ Fri, 24 May 2019 05:00:00 +0000 https://3130060-fork.findlaw2.flsitebuilder.com/blog/2019/05/what-is-the-chapter-7-means-test/ Chapter 7 bankruptcy is one of the most popular bankruptcy chapters among consumers. This is because the process is over very quickly in comparison to other options. In addition, Chapter 7 bankruptcy filers tend to benefit from large debt discharges. However, Chapter 7 bankruptcy is not available to all debtors. In order to qualify, you must pass a means test.…

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]]> Which assets will be liquidated in Chapter 7 bankruptcy? https://www.reedlawsc.com/blog/2019/04/which-assets-will-be-liquidated-in-chapter-7-bankruptcy/ Thu, 18 Apr 2019 05:00:00 +0000 https://3130060-fork.findlaw2.flsitebuilder.com/blog/2019/04/which-assets-will-be-liquidated-in-chapter-7-bankruptcy/ Chapter 7 bankruptcy is a popular choice among individual debtors because it makes it possible for them to have a large number of debts discharged. However, the process will also require that a significant amount of their assets is liquidated in order to pay back the debt. It is important that you fully understand the process of asset liquidation in…

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]]> Putting an end to wage garnishment https://www.reedlawsc.com/blog/2019/02/putting-an-end-to-wage-garnishment/ Fri, 22 Feb 2019 06:00:00 +0000 https://3130060-fork.findlaw2.flsitebuilder.com/blog/2019/02/putting-an-end-to-wage-garnishment/ Being subject to wage garnishment can be extremely demotivating and distressing. It can feel as though you do not have autonomy in your life because you are working only to have wages taken from you in order to pay off debt. Wage garnishment measures are generally only put in place when a person is severely late on their debt repayment…

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]]> How to take action when you are struggling with debt https://www.reedlawsc.com/blog/2019/01/how-to-take-action-when-you-are-struggling-with-debt/ Fri, 18 Jan 2019 06:00:00 +0000 https://3130060-fork.findlaw2.flsitebuilder.com/blog/2019/01/how-to-take-action-when-you-are-struggling-with-debt/ After the holiday period, many of us find ourselves having a reality check when we have a look at our bank statements and receive reminders for unpaid bills. Not feeling in control of our financial situation can feel overwhelming at times. It is important that the situation is not left unaddressed, because this will only lead to problems becoming worse.…

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]]> Did you know these items are exempt from liquidation? https://www.reedlawsc.com/blog/2018/12/did-you-know-these-items-are-exempt-from-liquidation/ Thu, 13 Dec 2018 06:00:00 +0000 https://3130060-fork.findlaw2.flsitebuilder.com/blog/2018/12/did-you-know-these-items-are-exempt-from-liquidation/ When it comes to Chapter 7 proceedings, it can be frightening to imagine all the personal property you’ll need to liquidate or sell. That being said, you may be surprised by just how much you can keep. Most bankruptcy filers are pleased when they find out that they can maintain possession of their furniture, their household appliances, their car and…

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