Written by Charleston Bankruptcy Lawyer, Russell A. DeMott At your bankruptcy hearing, you’ll be asked if you have a “domestic support obligation.” Just what is such a thing? The term was introduced by our relatively new bankruptcy law, BAPCPA (“Bankruptcy Abuse Prevention and Consumer Protection Act”). The definition is in §101(14A), which…
Written by South Carolina Bankruptcy Lawyer, Russell A. DeMott What Are South Carolina Bankruptcy Laws? From time to time clients ask me about filing bankruptcy under “South Carolina bankruptcy laws.” It’s logical for them to ask this question because they live in places like Mt. Pleasant, Goose Creek, Summerville, or Charleston, South Carolina. …
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott There’s a term you hear in the car business all too often: “upside down.” You’re upside down on your car loan when you owe more than the car’s worth. With a procedure available in Chapter 7 bankruptcy called “redemption,” you can use this to your…
Written by Summerville Bankruptcy Lawyer, Russell A. DeMott I am pleased to begin this series of video posts by my Bankruptcy Law Network colleague, Kurt O’Keefe. Kurt is a seasoned bankruptcy lawyer in Detroit with 30 years experience representing consumer debtors. Kurt is a member of Bankruptcy Law Network and very active in…
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott In “Can Creditors Take My Retirement Funds ? (Part One)” I discussed the protection offered under both state and federal law for retirement assets such as pensions, 401(k)s, and IRAs. As I noted in that post, retirement assets are–almost always–fully protected from the reach of creditors…
Written by Summerville Bankruptcy Lawyer, Russell A. DeMott Last year over a million people filed bankruptcy. Here’s a breakdown of the demographics of those filers.
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott In part one and part two of The Bankruptcy Means Test, I explained the shaky foundation of the means test: Current Monthly Income, or CMI for short. This post will address the issue of what happens when you pass the means test if you have above-median…
Written by Summerville Bankruptcy Attorney, Russell A. DeMott If you’re considering filing bankruptcy, you need to know what bankruptcy can do for you. You also need to have a clear understanding of what bankruptcy cannot do. Some conduct can result in the bankruptcy court refusing to discharge your debts. Some debts are dischargeable,…
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott Whether you file a Chapter 7 or a Chapter 13 bankruptcy, you’ll have your bankruptcy hearing (also called a First Meeting of Creditors or 341 Hearing) in this building. It’s the Sun Trust building on the corner of King and Queen Streets in Charleston. South Carolina…
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