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Posts tagged "filing for bankruptcy"

Supreme Court mulls overturning old bankruptcy decision

South Carolina homeowners with underwater mortgages along with other debts may be considering bankruptcy relief to find protection from creditors and opportunities for make a new start. Authorities agree that this is especially common among people with second mortgages. A case that has gone before the U.S. Supreme Court holds out the possibility of sweeping changes for people whose amount owed on their mortgages is higher than the value of their property.

The effect of medical debt on a credit report

Many people in South Carolina have overdue medical bills that they cannot afford to make payments on. In fact, almost half of all collection accounts in the U.S. are for unpaid medical bills, and one out of every six credit reports includes a medical debt collection. In 2012, unpaid medical bills resulted in 40 percent of Americans watching their credit score go down. While the leading credit reporting agency has changed its method of scoring medical debt, the problem still remains a considerable one.

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