Consumer Bankruptcy Lawyers in Beaufort, South Carolina

Find the right Consumer Bankruptcy attorney in Beaufort, SC

Bankruptcy is a legal process allowing an individual or business to have some or all of their debt absolved. 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 Beaufort, South Carolina before filing.

Chapter 7 Bankruptcy in Beaufort, South Carolina

There are 2 main types of bankruptcy in Beaufort, South Carolina. They are known as Chapter 7 and Chapter 13 Bankruptcy. Chapter 7 bankruptcy involves a liquidation of some of the debtor's assets, which pays off part of his or her debt. Once this is done, the remaining debt is absolved. Fortunately for debtors, many types of property are exempt from liquidation, including homes, vehicles, basic personal items, and retirement accounts.

Once qualified assets are sold, and the money turned over to the creditors, most remaining debt is absolved. However, there are certain types of debt that cannot be absolved in bankruptcy, including student loans, taxes, child support, and criminal fines. If most of your debt is non-dischargeable, it may not be a good idea to file for bankruptcy in Beaufort, South Carolina.

Chapter 13 Bankruptcy in Beaufort, South Carolina

Chapter 13 bankruptcy in Beaufort, South Carolina is markedly different. It may or may not be a better option than Chapter 7, depending on the facts of your individual case. Chapter 13 bankruptcy does not excuse debt, it restructures it. This involves a court coming up with an altered repayment plan designed to be manageable for the debtor. This new plan sets aside the terms of the original contracts that created the debt in the first place. This creates a new payment structure, normally involving a single monthly payment, that the debtor should find manageable.

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

Which Bankruptcy type to file under depends heavily on the facts of each particular case. If you have a steady stream of income (enough to make a payment plan manageable), and a large amount of non-exempt property that you don't want to part with, Chapter 13 may be best for you. If you don't have a steady income or large amounts of non-exempt property, you may be better off filing for Chapter 7.

Regardless of your situation, you should speak with an attorney in Beaufort, South Carolina who is experienced in bankruptcy before making a decision. They will be able to advise you of your options, and the likely outcomes of each one, allowing you to make a much more informed decision.

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Life in Beaufort

The city of Beaufort is the county seat of Beaufort County in South Carolina. Beaufort is situated on Port Royal Islands, in the Sea Islands and Lowcountry areas. Sometimes the city is confused with a city of the same name in North Carolina- the two have the same spelling but are pronounced differently.

Beaufort is known for its scenery and historic feel. Many of the buildings located there are done in antebellum style architecture. It is the second oldest city in the state and boasts a population of about 13,000. The downtown historic district is where much of the original Beaufort settlement can still be found. Other neighborhoods include the Pigeon Point, West End, Spanish Point, and Battery Creek areas.

Tourism has become the main focal point of the Beaufort economy. The city's hotel and bed breakfast scene thrives due to visitors seeking beach vacations, golfing areas, and watersport opportunities.

Lawyers in Beaufort usually visit the Beaufort Municipal Court when filing claims. Many Beaufort, South Carolina lawyers are members of the Beaufort County Bar Association as well as the South Carolina Bar Association. Beaufort lawyers specialize in a variety of legal fields and practices.

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