Is Chapter 13 Bankruptcy an option for me if I am self-employed?

Yes, Chapter 13 Bankruptcy is an option for those who are self-employed in South Carolina. The bankruptcy process is designed to help individuals who are facing financial hardship and need a fresh start. Chapter 13 Bankruptcy is a reorganization of debt, allowing those who qualify to create a payment plan for paying off debts while keeping their assets. In South Carolina, the requirements for filing for Chapter 13 Bankruptcy are the same for self-employed individuals as for anyone else, however, it is important to have an accurate assessment of your income and expenses. In order to qualify for a Chapter 13 Bankruptcy, you must show that you have sufficient income to pay off your debts. You must also submit a debt repayment plan that the court must approve before any debts can be discharged. One benefit of Chapter 13 Bankruptcy for self-employed individuals is that you may be able to consolidate several debts into one payment, and you may even be able to lower your interest rate if your creditors agree to it. Additionally, you may be able to stop creditor harassment if you are able to keep up with your payment plan. Overall, Chapter 13 Bankruptcy is an option for self-employed individuals in South Carolina, however, it is important to carefully consider all of your options and speak with an experienced bankruptcy attorney in order to ensure that your rights are protected throughout the process.

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Is Chapter 13 Bankruptcy an option for me if I am self-employed?

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