When you are in debt and are concerned about your bills, you may be eager to find help solving your financial problems. There are legitimate solutions to debt troubles, including filing for bankruptcy as well as exploring ways to refinance your debts or negotiate a payment plan. Unfortunately, there are also a lot of debt...
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How Creditors Trick Consumers into Taking On More Debt
Consumers often find themselves faced with tremendous amounts of credit card debt which they are not able to pay. In fact, Time reports that the average American is in credit card debt regardless of how good the economy is doing. Americans owed $935.6 billion in 2015, and the average American between the ages of 18...
Read MoreLearn About Bankruptcy Exemptions in South Carolina
We've found that many of our clients hesitate to file for bankruptcy because they believe they'll lose everything. A common misconception is that, in bankruptcy, you can lose your home, your car and other things you need to go on living and working. Where's the hope in that? The reality is that bankruptcy is intended...
Read MoreColumbia Debtors Not Being Protected from Abusive Debt Collection Practices
Chapter 13 bankruptcy is one of the best options for many people who have found themselves struggling with debts. If the money you are paying to your bills is not actually bringing down balances because all of the money is going to interest, Chapter 13 may be the way to get out of the financial...
Read MoreColumbia Cancer Survivors Face Debts & Often Bankruptcy
Medical care is expensive, even after the passage of the Patient Protection and Affordable Care Act (PPACA). Insurance deductibles may be very high, out-of-network care may not be covered but may be necessary, and essential prescription medications are not always paid for. These problems can be issues for everyone, but for people who develop a...
Read MoreEnding Abusive Debt Collection Practices a Reason to file Bankruptcy
The Fair Debt Collection Practices Act aims to protect consumers from abusive practices on the part of debt collectors. Unfortunately, despite an array of laws aimed at protecting debtors and despite government agencies like the Consumer Financial Protection Bureau trying to stop dishonest debt collection tactics, debt collectors still continue to be unethical. Those who...
Read MoreCan Columbia Debtors Keep a College Fund Through Bankruptcy?
Bankruptcy is often the best choice for debtors in Columbia and surrounding areas who cannot make payments on their debts. When you miss payments or you are covering only the interest on your debts, continuing to send money to creditors is simply a waste. Filing bankruptcy can provide relief, but you may be concerned about...
Read MoreColumbia Debtors Should Consider Bankruptcy
Debtors who file for bankruptcy in South Carolina experience significant financial benefits and are likely to do better financially and achieve greater financial stability than debtors who do not file. A study published by Federal Reserve Bank of New York demonstrated that debtors post-bankruptcy were in a much better financial situation than people who had...
Read MoreS.C. Consumer Debtors Should Treat Bankruptcy Like Businesses Do
Most consumers who file for bankruptcy protection do so because of cataclysmic personal events like a major illness, accident, job loss, or divorce. Senator Elizabeth Warren, who has been a strong advocate for making bankruptcy laws more favorable to consumers, told Philly.com: "The problem is not that people won't pay. It's that they can't pay." Warren, and...
Read MoreAmericans May Have Worse Debt Troubles Than Greece
Anyone with passing interest in financial news has likely been watching the Greek financial crisis unfold in recent years. Recent disputes with Germany and other EU countries over Greece's debt obligations have drawn further attention to the country's troubled financial state. While Greece may be in serious debt trouble, Fortune Magazine recently published an article suggesting the average...
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