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Bankruptcy is meant to be a way out for people stuck in difficult financial situations. If you’re dealing with overwhelming debt, there’s a good chance you’re also having trouble keeping up with your rent, endangering your housing situation. In those circumstances, it’s natural to ask whether bankruptcy can stop you from being evicted from your...

If you're considering bankruptcy, you're probably worried about how it will affect your credit score. Your credit score plays a big role in your financial life—it influences loan approvals, housing opportunities, and even job offers. It’s understandable that the idea of your score taking a hit can make bankruptcy seem intimidating. But while bankruptcy can...

It’s no surprise that Americans are struggling with debt, but recent reports have put some numbers to just how severe the debt crisis has become. As Business Insider reported, new data reveals that the average debt an American consumer holds is $104,215. That figure includes mortgages, auto loans, credit cards, student loans, personal loans, and...

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...