Work with a Compassionate Chapter 7 Bankruptcy Attorney

Our caring Chapter 7 bankruptcy lawyers are here to help you get the debt relief you need to start enjoying life again. Let us guide you through the process each step of the way.

Get a Fresh Start and Begin to Heal

Life happens, and it can be easy to get overwhelmed by debt. Maybe you’ve lost a job, had an emergency, or simply spent too much. You might find yourself in a situation where you owe creditors more than you can pay. You know bankruptcy is a last resort, but sometimes, it’s your only option.

At Meredith Law Firm, LLC, we understand that debt can happen to anyone. We explore all of your options to determine the best course of action. If bankruptcy is the best choice for you and your family, our Chapter 7 bankruptcy attorneys help you get the most favorable outcome. Contact us for your free, confidential consultation. We proudly serve Myrtle Beach, SC, Columbia, SC, North Charleston, SC, and the surrounding areas. If you are looking for a caring “bankruptcy attorney near me,” you’ve come to the right place.

What Is Chapter 7 Bankruptcy?

When you file for Chapter 13 bankruptcy, you are working with creditors to restructure your debt. Chapter 7 bankruptcy or Chapter 7 liquidation goes one step further. It is a process of debt liquidation that eliminates certain types of non-priority, unsecured debt. It is for people who have no disposable income after paying their monthly expenses and cannot pay off their debt in the foreseeable future. It is designed for people who have mostly unsecured debt and minimal assets. Examples of unsecured debt include medical expenses and credit card bills. Child support, student loans and some other types of debt cannot be eliminated.

Chapter 7 liquidation is a process usually designed to eliminate unsecured, nonpriority debts. Unsecured debt means there is no collateral for the loan and priority debt is generally things like taxes, child support and alimony. Unsecured, nonpriority debts that are forgiven in this type of bankruptcy are generally credit cards, medical bills and bank or finance company loans.

If you have a loan that is secured by collateral, such as a mortgage secured by your home or a car loan secured by your vehicle, you generally must choose to continue making these payments under the original agreements or surrender the collateral. Unfortunately, we can’t keep a house or a car and eliminate the debt that is secured by the collateral.

In order to qualify for Chapter 7 liquidation as an individual you must show the court that you are insolvent. This means that we show your household budget does not have any money left over even after elimination of the unsecured debt payments. If your household budget does have money left over (referred to as “disposable income”), then you generally are not eligible for this type of relief. The basic idea is that you must show that by the time you pay your necessary bills (rent, electric, food, gas, cell phone, etc.) there is no money left to pay your unsecured debts.

A business may also file a Chapter 7 case to provide for an orderly wind-down of the business upon closing. A business will cease to exist in this process. If there is personally guaranteed debt, then the individual that guaranteed the debt will still be liable for the obligations after the business’ liquidation and we need to address this exposure as part of the overall strategy.

Chapter 7 is a liquidation, and you must be very careful if you seek relief under this version of bankruptcy to make certain that all of your property is protected. If you own something that is more valuable than the amount you are allowed to protect under the relevant statute, this asset may be taken by the Chapter 7 Trustee and sold to provide a financial distribution to your creditors. We will work with you to make certain that this is a safe path before we file a case under this chapter of the Bankruptcy Code.

This is a basic summary of Chapter 7, there are several other aspects to this type of bankruptcy case that we must consider before we proceed under Chapter 7. Please schedule a free, confidential consultation to discuss your unique situation.

How Does the Process Work?

Step 1: Analyze Your Debt

We’ll meet to discuss your financial situation and the debt your currently owe. Our Chapter 7 bankruptcy lawyers will then explore your options to determine if Chapter 7 bankruptcy is right for you or if we can identify an alternative solution. The consultation is free and confidential.  We offer consultations by telephone and zoom video conferencing.

Step 2: File for Chapter 7 Bankruptcy

Once we determine that Chapter 7 is the best course of action, we will help you file for bankruptcy. Our personal bankruptcy lawyers will work hard to help you keep your home and car, if need be, and do everything we can to make the process as painless as possible.

Step 3: Get Peace of Mind

Once you file for bankruptcy, you have the opportunity to get a fresh start, free from the stress of overwhelming debt. This gives you the chance to rebuild your life and be more prepared for the future.

What Our Clients Are Saying

“We felt they went over and above what we expected. Could not have asked for better anywhere. They helped us feel calm and encouraged to see things as a fresh start. Very, very helpful all around!”-Sherrill D. via Google.

How Much Does a Chapter 7 Bankruptcy Attorney Cost?

If you are struggling with debt, the last thing you need is to worry about high legal fees. We are committed to providing affordable service.  Our fees are based on the nature and complexity of each case on an individual basis.  We quote our fee during a free, confidential consultation. We offer payment plans based on your circumstances. By eliminating your outstanding debts, we can make your household budget work better and provide you peace of mind.

Work With a Compassionate Debt Relief Attorney

At Meredith Law Firm, LLC, our number one goal is to help you get the debt relief you deserve to live a better life. We aren’t here to judge you or make you feel bad. We are here to support you and dramatically improve your financial situation.

If you are searching for a bankruptcy attorney in Charleston, SC, a bankruptcy attorney in Columbia, SC, a bankruptcy attorney in Myrtle Beach, SC, or a “debt relief lawyer near me,” contact us to get started.