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What Happens When You File Bankruptcy?

Bankruptcy used to strike fear and a sense of desperation in the hearts of many. But in an economic environment like today's, it's not uncommon for thousands of hardworking Americans to find themselves struggling with overwhelming debt. Filing bankruptcy gives you the ability to create a better financial future for yourself. It's not a failure; it's an opportunity to get a fresh start and get out from under a mountain of crushing debt. But how exactly does bankruptcy work, and what happens…

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How Often Can You File for Bankruptcy?

There is no limit to the number of times you can file for bankruptcy in your life. However, how soon you can file after your debts are discharged in bankruptcy is another matter. The timing of receiving another discharge depends on the type of bankruptcy filed, its timing, and how it was resolved. So the question is less "how often can you file for bankruptcy?" and more "how often can you get a bankruptcy discharge?" In the following article, we…

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Is Filing Bankruptcy on Your Own a Good Idea?

A medical issue, divorce, unemployment, or other problem can leave you broke and struggling to get out of debt. Without much money, you could be tempted to file for bankruptcy on your own. Be warned, though, that filing bankruptcy “pro se”, or without an attorney, can be a waste of time and money. It’s easy to make mistakes during the difficult and stressful bankruptcy process, especially if you haven’t gone through it before. In this article, we discuss common mistakes…

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What You Need to Know About the Bankruptcy Meeting of Creditors

Also called a “341 hearing”, the meeting of creditors can be another source of stress during the bankruptcy process. However, the conclusion of a 341 hearing can provide tremendous relief as it offers a fresh financial start. In this article, we’ll take a close look at what you should expect at the meeting of creditors. To learn more, contact a North Charleston bankruptcy attorney at Steadman Law Firm, P.A. today. What Is a Meeting of Creditors? The meeting of creditors is an important part of…

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3 Steps to Rebuilding Credit After Bankruptcy

One of the most common misconceptions about bankruptcy is that it destroys your credit. While creditors aren’t going to trust you immediately after you file, the bankruptcy will eventually be removed from your credit report. Also important to remember is the fact that creditors consider your recent credit history to be more important than stuff that happened in the past. In the meantime, there are a number of steps you can take to start rebuilding credit after bankruptcy. The question, of course,…

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