Mount Pleasant Bankruptcy Attorney
If you are buried in debt and can’t seem to get yourself out of it, a Mount Pleasant bankruptcy attorney can help you learn about your options. There is no need to feel defeated by debt, or feel intimidated by creditors. You can take control of your finances with the help of Steadman Law Firm. We will address your debt-related concerns, as well as inform you of your legal rights.
Is Bankruptcy the Best Choice for Me?
Bankruptcy can help you start over and rebuild your life. When filing for bankruptcy, the court will order an automatic stay for your creditors to stop them from taking various actions against you. These include the following:
- harassing communications (i.e., letters and phone calls)
- temporarily disconnecting utilities
- taking legal action
- repossession of personal property
- seeking foreclosure
In many cases, the automatic stay will continue to be in effect throughout the entire bankruptcy proceedings. This gives you time to put in place an action plan. Your Mount Pleasant bankruptcy attorney will go over your choices with you, and then determine which is most ideal for your circumstances.
Chapter 7 and Chapter 13 are two of the main types of bankruptcies individuals can file, and both can offer debt relief based on the circumstances.
- Chapter 7 Bankruptcy is liquidation bankruptcy, and available to both individuals and businesses. It will offer you a “fresh start” by eliminating most of your debt. Chapter 7 requires you to present a list of your assets. Your non-exempt property could be liquidated to pay back your creditors. Chapter 7 won’t be able to eliminate certain debt, such as car loans, mortgages, student loans and tax debt.
- Chapter 13 Bankruptcy is reorganization bankruptcy, available only to individuals. This is ideal for debtors who can repay a percentage of their debt with a repayment plan. A bankruptcy attorney can assist you with putting together a workable repayment plan which would be suitable for the creditors and court. This way, you can repay your debt in practical monthly payments within an extended period of 3 to 5 years.
A skilled Mount Pleasant bankruptcy attorney can guide you through the entire bankruptcy process. We will help you find the best option for you to regain control of your financial situation
What If You Own a Business?
If you would like to file for bankruptcy on behalf of your business, you can file under Chapter 7 to liquidate the business or file under Chapter 11 to rebuild your business. If your business is associated with farming, you could possibly file under Chapter 12.
Preparing for Your Consultation Visit With a Mount Pleasant Bankruptcy Attorney
To benefit the most from your free consultation visit with Steadman Law firm, be sure to be prepared by bringing all your documents. This way, your Mount Pleasant bankruptcy attorney can accurately assess your situation and then help you figure out whether filing for bankruptcy is a good option for you. The documents to bring to your consultation include the following:
- bank statements
- copy of lease or mortgage
- copy of credit report(s)
- list of monthly expenses (i.e., utilities, food or insurance)
- list of debts (i.e., credit cards, loans, child support or alimony)
- pay stubs and other proof of income
- recent filed tax returns
- business records if applicable
- vehicle loan or lease
- retirement income or statements if applicable
- life insurance policies if applicable
- court notices, lawsuits or garnishments
- foreclosure documents
Start the Road to Financial Recovery
Don’t be overwhelmed by debt any longer. Call Steadman Law Firm to speak with an experienced Mount Pleasant bankruptcy attorney about your options and how you can receive a free and confidential consultation. Call 843-800-2589 today.