South Carolina residents may have heard that rapper 50 Cent was ordered back to bankruptcy court over pictures he posted to his Instagram account. The rapper, whose real name is Curtis Jackson, filed for Chapter 11 bankruptcy in July 2015 after he was ordered to pay $7 million to a woman after leaking a sex tape she was in. The judge said in her ruling that she was concerned about a lack of transparency in the case, which was what instilled confidence in the bankruptcy process.
As the new year continues forward, many South Carolina residents may be wondering how they can get their debts under control. While some people may be struggling with auto loans or credit card bills, others may be trying to pay down a large student loan. Whatever the debt is, there are several solutions to getting rid of it.
Paying down a high-interest credit card debt can be difficult as most of the payment goes toward interest. However, it may be possible to transfer that balance to a credit card offering zero percent interest for 12 to 18 months. While such offers are generally available only to those with good credit, some card issuers may allow an individual to add a family member or friend to the account as a cosigner.
Many South Carolina residents who are struggling with financial obligations realize that their credit rating will take a hit if they file for bankruptcy. There are a few ways a person may begin repairing credit soon after the bankruptcy is filed, however.