South Carolina Attorney Lawyer

As the USA a bankruptcy judge during the last 12 years, I’ve never seen every day of their users serious financial crises. They failed, to collect complaints or requests to prevent a loss to retain ownership of crucial importance for their lives and get a fresh start in their financial life. Sometimes, the cause of their situation is an unexpected loss of jobs, a public health crisis, a divorce or an accident.

Increasingly, I have seen financial problems through simple expenditure. According to national statistics, 43 percent of Americans spend more money they earn. More than half of Americans with a debt of credit card over $ 10000. During the last 10 years, the total number of credit cards in use grew by 62 per cent of the total cargo volume of 162 per cent and net debt has still increased by 129 percent. The average debt credit card by cardholders in South Carolina in 2005 was $ 3883rd

There is no doubt that in our society focuses on consumers, most Americans have become addicted and intoxicated by nature and life made possible by the purchase on credit.

The declaration of bankruptcy, as the last means of credit problems, reached epidemic levels, increases each year until 2005. This year, there were nearly 2 million cases presented at the national level and more than 15500 cases in South Carolina. Effective Oct.17, 2005, the United States Congress amends the law on bankruptcy for bankruptcy more difficult for the Liberation of debt. The new laws, it is even more complex file It instructed some credit adviser, laid down certain guidelines for the regulation of pay demands and the condition, the strengthening of certain measures to protect lenders before discharge available to a debtor.

The new law called consequences: reducing national applications in 2006 to 620000, 69 percent lower, and applications for reduction of South Carolina in the year 2006 to 6500, 58 per cent decline. But there is no indication that the number of people in a financial crisis for reasons including over-indebtedness of consumers, appropriations were reduced.

Particularly worrying is that the proportion of young Americans, are in financial crisis remains high. National statistics show that during the years 1990, bankruptcies among young adults (age 18-24) increased by 96 per cent. Up to 10 percent of students drop out because of debts owed by credit card. The student performs an average of at least $ 2000 of debt credit card and graduates of 3000 an additional $ indebted. Studies show that up to 26 years to pay a $ 5000 debt credit card interest rates average 16 per cent, if only 2 percent at least the payment of each month, which is typical for a new graduate school.

With these alarming statistics to reflect the fact that the United States Bankruptcy Court of South Carolina, the National Credit Abuse Resistance Education (CARE) program, sponsors free financial education and literacy programmes High School and Student Community and other organizations. With a philosophy that “an ounce of prevention is worth a pound of cure”, the CARE program experienced volunteers, including judges, trustees and bankruptcy lawyers to share the lessons they have learned in accounts receivable and other errors On the use of credit -.

The program offers suggestions for the proper management of credit cards and other types of high interest loans, such as Pay-day and loan, and stresses the importance of credit reports and the identity protected. Presentations of lessons, as a budget, how to make good savings habits, and how to maintain a good credit reputation.

More than 40 professionals in the bankruptcy have volunteered to support the country and the Tribunal has recently concluded a partnership with the South Carolina Department of Consumer Affairs and Consumer Law Section of the South Carolina Bar to increase and availability program CARE .