bankruptcy confusion

Chapter 7 Bankruptcy: The Means Test (Part One)

Written by Charleston Bankruptcy Lawyer, Russell A. DeMott If you want to file a Chapter 7 bankruptcy, and your income is over the median income for your state, you must take a “means test” to help the court determine whether you are eligible for Chapter 7 bankruptcy.   The purpose of the means test is…

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What is the Automatic Stay?

    Written by Charleston Bankruptcy Lawyer, Russell A. DeMott Whether you file Chapter 7 bankruptcy or Chapter 13 bankruptcy, the “automatic stay” goes into effect immediately when your case is filed.     The stay prohibits almost all collection actions against you. It’s a terrifying feeling not being able to answer your phone or…

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what to wear to your bankruptcy hearing in charleston

What Should I Wear to My Bankruptcy Hearing?

Written by Summerville Bankruptcy Lawyer, Russell A. DeMott If you file bankruptcy, whether it’s a Chapter 7 case or a Chapter 13 case, you’ll have to go to a hearing. There is no bankruptcy law about what you should wear, but I have a few tips. As I’ve discussed before, if you file bankruptcy, you’ll…

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Bankruptcy Laws: The Irony

Written by Charleston Bankruptcy Lawyer, Russell A. DeMott Congress passed the new bankruptcy law, BAPCPA (“Bankruptcy Abuse Prevention and Consumer Protection Act”) in 2005.     The irony has been that   while our “representatives” have made it more cumbersome for their consumer constituents to obtain bankruptcy relief, they have  continued to borrow money at…

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Filing Bankruptcy on “It”

Written by Charleston Bankruptcy Lawyer, Russell A. DeMott The Bankruptcy Code requires debtors to list all debts in their bankruptcy paperwork (called “schedules”).   You cannot pick what debts to include in your bankruptcy and what ones to leave out.   This is true for both Chapter 7 and Chapter 13 bankruptcy. I often hear…

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Should I Try Credit Counseling? (Part One)

Written by Summerville Bankruptcy Attorney, Russell A. DeMott You want to avoid filing bankruptcy.   Everyone does.   What are your options?   What about credit counseling? Let’s first define what I mean here.   First, there are two kinds of “credit counseling.”   There’s the credit counseling you must do prior to filing your…

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bankruptcy hearing in charleston--questions asked

What to Expect at Your Bankruptcy Hearing

Written by Summerville Bankruptcy Lawyer, Russell A. DeMott Your bankruptcy hearing, also called a First Meeting of Creditors or the 341 hearing will be held by your Trustee approximately 4-6 weeks after your case is filed.   All of the Trustees we deal with here in the Charleston division of the District of South Carolina…

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