Meredith Law Firm LLC
- Columbia Bankruptcy Attorneys

Bankruptcy Lawyers

NORTH CHARLESTON, SC : 843-410-3961

COLUMBIA, SC : 803-753-7351

MYRTLE BEACH, SC : 843-353-3553

Chapter 7
Chapter 13
Chapter 11
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Can bankruptcy help you with your credit card debt?

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Many families across South Carolina are struggling with credit card debt. They may only be able to make minimum payments, meaning that their balances may continue to increase due to high interest rates. Some of these individuals do not have the means to make ends meet after making these payments, leading to even more financial problems.

Some debtors may try to negotiate with their credit card companies in order to reduce the amount of money that they may owe. Companies may agree to these arrangements, but there may be serious penalties that result if individuals fail to meet their obligations. Cardholders need to be sure that any decisions that they make at this time consider all of the potential options available to deal with their credit card debt, including filing for bankruptcy.

If a person qualifies to file for Chapter 7 bankruptcy, this means that their dischargeable debts are eliminated after a one-time payment. This would include most credit card debt, which could be a major benefit for those who file. Under Chapter 13, the person’s debts are reorganized, and the individual will create a plan that allows them to repay the amounts over period that runs from three to five years.

While some people might not want to file for bankruptcy, they need to understand all of the advantages that occur after filing. Once a person decides to move forward with their bankruptcy, they are protected by the automatic stay. This brings an end to all collections actions that may be pending against them. Creditors are not allowed to contact or harass debtors after they have filed for bankruptcy.

This process provides individuals with the time that they need to deal with their debt, and also develop better spending habits. They can create a budget that allows them to meet their monthly obligations, and helps them see where they can cut down on some of their unnecessary expenses.

When you start to receive notices or calls from your creditors, you need to take immediate steps to deal with the financial challenges that you are experiencing. You should contact an experienced bankruptcy attorney as soon as possible to learn more about the various possible options that may be available in your situation.

An attorney will be able to help you decide if bankruptcy is best for you, and then work with you to tailor a plan that takes all of your concerns into consideration. Once you understand all of these options, you can begin making the necessary changes in order to resolve your money problems. This will allow you to develop positive habits that you can implement to prevent you from experiencing these issues again in the future.

Office Locations

Meredith Law Firm LLC
4000 Faber Place Drive
Suite 120
North Charlston, SC 29405

Phone: 843-410-3961
Fax: 843-529-9907
North Charleston Law Office Map
Meredith Law Firm LLC
1901 Assembly Street Suite 360
Columbia, SC 29201

Phone: 803-753-7351
Fax: 803-451-5040
Columbia Law Office Map
Meredith Law Firm LLC
2411 N. Oak Street
Suite 107
Myrtle Beach, South Carolina 29577

Phone: 843-353-3553