Charleston Chapter 7 Bankruptcy Lawyer

South Carolina Bankruptcy Liquidation Services

If you have high levels of credit card debt, large medical bills or other types of unsecured debt and you can't afford the payments, Chapter 7 bankruptcy may be a good option for you. Also referred to as a straight bankruptcy or liquidation, Chapter 7 bankruptcy lets you settle your debts by selling your nonessential assets and using that money to repay your creditors.

There are certain criteria that need to be met in order to qualify for Chapter 7, and you must pass a bankruptcy means test in order to proceed. It is important to have an experienced lawyer to help you through the process. At the North Charleston, South Carolina-based Steadman Law Firm, P.A., we have helped countless clients find the debt relief they need and get a fresh start through Chapter 7 bankruptcy.

A Fresh Start Through Chapter 7 Bankruptcy

One of the biggest myths about filing for Chapter 7 bankruptcy is that you lose everything you own. In fact, nothing could be further from the truth. While some of your property may be sold to repay your debts, the law allows you to "exempt" or keep a specified equity value in certain critical assets:

• Your home
• Your car
• Clothing
• Tools or equipment required to perform your job
• Specific household goods

If you do not have any property that can be sold, yours may be declared a "no-asset" case and you won't lose anything. Most Chapter 7 cases are "no asset".

Once the property has been sold and the funds are distributed to your creditors, you will receive a discharge and your debts will generally be considered settled. However, certain nondischargeable debts will have to be repaid. These include student loans, some taxes, child and spousal support and criminal judgments.

A 30-Year Experienced Bankruptcy Attorney Leading the Way

Our founding attorney, Richard A. Steadman, Jr., has more than 30 years of experience in the practice of law. He will represent you at all meetings and hearings involved with your case. He personally handles every aspect of your legal matter, from the filing of the petition to the conclusion of your case. Between Mr. Steadman and his team of paralegals and support staff, you will always have access to someone who can answer your questions and fulfill your needs.

Call to Schedule Your Initial Consultation

Contact our office today to discuss your bankruptcy questions. We are available during regular business hours and by appointment at other times. For your convenience, we offer payment plans for our clients who need them.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.