Debt is a way of life for most people in America. As of the 4th quarter of 2016 the average household credit card debt is $16,748, and the average household overall debt, including mortgages, is $134,643. While the phrase “don’t spend above your means” will always be great advice increasing debt isn’t just a case ...

If you are in the process or have recently filed for bankruptcy, beware of scammers. According to the National Association of Consumer Bankruptcy Attorneys (NACBA), the scammers will use the personal information from filings and pose as an attorney and request that you wire them money to satisfy a debt. NACBA issued a warning that ...

In most South Carolina bankruptcy cases you will not lose your home or car as long as the property’s equity is fully exempt. (view SC bankruptcy exemptions) If your property’s equity isn’t fully exempt you will need to pay its non-exempt value to your creditors in chapter 13 in order to keep your property. However, ...

The type of bankruptcy that’s right for you will mostly be contingent on your assets and your income. Your income may preclude you from filing a simple Chapter 7 case, and if you have nonexempt property, you might lose it in a Chapter 7 bankruptcy, but it can protected with a Chapter 13 bankruptcy. Below ...

Most people understand the basic concepts of bankruptcy. They know that papers are filed with the Greenville County Bankruptcy Court and then they don’t owe their debt anymore. I wish filing a bankruptcy were that easy. I always give a brief description of the bankruptcy process to my clients during the initial consultation. Bankruptcy is ...

Although I categorize myself as bankruptcy attorney in the Greenville, SC area, I consider bankruptcy the last option. I don’t see anything wrong with filing a bankruptcy and it is often necessary to provide a fresh start; however, with the social stigma and credit damage I avoid filing bankruptcies when possible. Unfortunately, many times a bankruptcy ...

As a financial/bankruptcy attorney, I get asked all the time: What will a bankruptcy do to my credit? My answer is always the same: “The same thing as not paying your bills.” I am not a credit reporting agency. I do not know what mathematical equation the credit reporting institutions use to determine the score. ...

Importance of Homeownership Typically, a family’s home is its greatest asset. In addition to many social benefits, homeownership allows you to build equity and reap some tax benefits. However, in uncertain financial times it can also be a family’s greatest liability. A mortgage payment normally is the single largest debt that a family must pay ...

What is a Bankruptcy? In general, bankruptcy is a way for debtors (people who owe money) to get rid of debt which they cannot afford to repay. However, the Bankruptcy Code gives debtors several options to achieve this goal. These different options are written into the bankruptcy laws as different chapters and are commonly referred ...