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If you’re considering filing for bankruptcy in South Carolina, you likely have questions and concerns. Among the most common questions we get is how bankruptcy will affect your credit report. One of the myths about bankruptcy that just won’t die is that filing for bankruptcy will ruin your credit forever. In our experience, bankruptcy is...

Filing for bankruptcy can be a challenging process. You need to gather and submit a great deal of information about your finances, and you need to interact with several people who play various roles in the process. One of the most important roles in that process is the bankruptcy trustee. Your guide to the legal...

Sometimes, old debts can simply seem to fade away. Perhaps they’ve been written off by the creditor as impossible to collect, or perhaps they are simply forgotten. However, unscrupulous debt collectors can sometimes bring those old debts “back from the dead.” It’s called zombie debt, and it can make a significant difference in your quality...

Student loan debt in the United States totals $1.727 trillion, marking the first-ever annual decline in 2023. As of March 3, 2024, the outstanding federal loan balance stands at $1.602 trillion, accounting for 92.8% of all student loan debt, with 43.2 million borrowers holding federal student loans. The average federal student loan balance is $37,088,...

When to file for bankruptcy for credit card debt The soaring average credit card debt in the U.S. - hitting between $6,360 and $11,000 per borrower in 2023 - indicates the financial strain affecting countless individuals. However, breaking free from the cycle of credit card debt is often a monumental task. For many, the solution...

Is bankruptcy the right option for you? American debt is skyrocketing to record highs, with $17.5 trillion in personal debt as of the last quarter of 2023. The average amount owed nationwide is more than $100,000 per household. Many households are swimming in debt, but a lifeline is available. In South Carolina, declaring bankruptcy can...

If you're considering bankruptcy during tax season, here's what you need to know. Chapter 7 bankruptcy is also called "liquidation bankruptcy" because, at least in theory, your assets can be liquidated (sold) and used to repay your creditors before the rest of your debt is discharged (eliminated). During tax season, one asset you might be...

If you're ready to explore a financial reset, here's what you need to know. Talking to a bankruptcy lawyer is a big step. It means acknowledging to yourself that you're in a difficult situation and need a way out. It also means discussing your finances with a stranger, which is always hard. And if you've...

Talk to an attorney right away to protect your financial future. For individuals with overwhelming debt and significant income or assets, Chapter 13 bankruptcy can provide a path to a financial reset. Chapter 13 is also called "reorganization bankruptcy" because rather than discharging your debts immediately, it reorganizes your debts into a repayment plan with...

Make sure you understand your rights and responsibilities before you file. If you are considering filing for Chapter 7 or Chapter 13 bankruptcy, one step you need to take as soon as possible is to take stock of your entire financial situation. All of your debts and assets need to be accounted for, including any...