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How Does Chapter 13 Work?

While some folks are forced to file under Chapter 13, many more choose to file under Chapter 13 because of its unique advantages over Chapter 7. With the help of a bankruptcy attorney, you devise a repayment plan to be executed over the course of three or five years. At the end of the bankruptcy, whatever debt hasn’t been repaid is discharged. In this article, we’ll discuss how Chapter 13 bankruptcy works. Chapter 13 Bankruptcy: An Overview Chapter 7 bankruptcy…

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Can You File Bankruptcy on Student Loans?

Can you file bankruptcy on student loans? Yes, you can; however, whether you can discharge that debt or not is the bigger question. Unfortunately, most people do not qualify for discharging student loan debt through Chapter 7 or Chapter 13 bankruptcy. But you can eliminate your debt if you can prove that paying your student loans will place an undue hardship on you. Proving Undue Hardship Most courts are very reluctant to discharge student loan debt unless you can show that paying your…

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Is Bankruptcy Right for Me?

If you are crushed under overwhelming debt and struggling to regain control of your finances, bankruptcy could give you the clean slate you need. But while filing bankruptcy offers many benefits, it is an important decision that you shouldn't make lightly. If you are wondering "is bankruptcy right for me?" it's best to speak to an experienced North Charleston bankruptcy attorney who can help you weigh your options. What Benefits Does Bankruptcy Offer? Bankruptcy Can Eliminate Debt Perhaps the best benefit of bankruptcy is…

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How to Stop Wage Garnishment Through Bankruptcy

When you're struggling to pay debts, wage garnishment only adds insult to injury. Let's face it — who wants chunks of their hard-earned paycheck taken out every month? In fact, the court can order your employer to take as much as 25% of your paycheck to pay creditors. How can you get back on your feet financially when you're losing a significant portion of your income? Fortunately, you have options. While it may not seem like an appealing prospect, filing for bankruptcy can help. Below, we…

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Can You File Bankruptcy on Medical Bills?

Medical emergencies can occur without warning, leaving you injured and out of work. And when your medical bills keep piling up, debt can quickly get out of control. But can you file bankruptcy on medical bills? You can. In fact, medical debt is one of the most common reasons people file bankruptcy. At Steadman Law Firm, we can explain your options and help you regain control of your finances. What Happens When You Have Outstanding Medical Debt? Any outstanding medical debt you hold…

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