Consumer Bankruptcy Lawyers in Anderson, South Carolina

Find the right Consumer Bankruptcy attorney in Anderson, SC

Bankruptcy is a legal process allowing an individual or business to have some or all of their debt excused. It is almost always considered as a last resort because it can have some negative long-term consequences which must be considered, even if you ultimately decide that they are outweighed by the benefits. Bankruptcy is governed by federal law, and proceeds in federal courts. So, the procedure for filing for bankruptcy in South Carolina will be very similar to the procedure anywhere else in the U.S. However, individual bankruptcy courts have different rules for exemptions, so it might be a good idea to consult with a local attorney in Anderson, South Carolina before filing.

Chapter 7 Bankruptcy in Anderson, South Carolina

There are 2 typical types of bankruptcy in Anderson, South Carolina. They are known as Chapter 7 and Chapter 13 Bankruptcy. Chapter 7 liquidates some of the debtor's assets. It requires a certain percentage of the debtor's assets to be sold off to pay as much of his or her debt as possible. However, many types of property that most people own are exempt, meaning that they don't need to be sold. This often includes houses, vehicles, insurance policies, and necessary personal items, like clothing. These assets are not available to creditors.

Once the non-exempt property is sold, the rest of the dischargeable debt is absolved. Some types of debt, however, is non-dischargeable, including student loans, criminal fines, and others. If most of your debt in Anderson, South Carolina is not dischargeable, Chapter 7 may not be the best option.

Chapter 13 Bankruptcy in Anderson, South Carolina

In Anderson, South Carolina, Chapter 13 is substantially different from Chapter 7. Chapter 13 may or may not be the best choice for you; this depends on the facts of your specific situation. Chapter 13 Bankruptcy involves a court setting up an adjusted payment plan, which allows the debtor to pay off most or all of his debts over an extended period of time, through monthly payments that should, assuming that the debtor is willing to make a few sacrifices, be manageable.

Which Type of Consumer Bankruptcy Should I File in Anderson, South Carolina

This depends entirely on the facts of your specific case. If you have a decent amount of steady income, and a large amount of non-exempt property which you don't want to part with, Chapter 13 might be the best option for you. If most of your property is exempt, and you don't have much steady income, Chapter 7 might be the best option.

In any case, it would be a good idea to consult a local bankruptcy attorney in Anderson, South Carolina. Your attorney can make an educated judgment as to what your best option is, and advise you accordingly (of course, the choice to file for bankruptcy is ultimately yours).

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Life in Anderson

Anderson, South Carolina is the county seat of Anderson County. The city proper has a population of around 25,000 people, with the immediately-adjacent areas (generally considered part of the urbanized area of which Anderson is the center) bring the population of the area to around 70,000.

The economy of Anderson, South Carolina is based on manufacturing, and it is quickly becoming a major center for automobile manufacturing in the U.S., creating an economic boom which this region seriously needed. Furthermore, Anderson, South Carolina is a thriving business center that revolves around entrepreneurship, and it shows: Anderson is one of the premier shopping centers in its region, boasting a wide variety of locally-owned establishments, as well as larger chains, to meet everyday needs.

In any rapidly-growing community, individuals and businesses are almost certain to face a significant number of legal issues. It's just a fact of life. However, legal issues, while rarely fun, don't need to be as difficult as they often are. If you hire a good Anderson, South Carolina lawyer, things will go much more smoothly.

Anderson, South Carolina lawyers are prepared to handle a huge variety of legal issues, and whatever legal issue you might face, you can probably find an Anderson, South Carolina lawyer who can help you with it.

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