When financial hardship strikes, bankruptcy can provide the fresh start you need. But choosing between Chapter 7 and Chapter 13 bankruptcy isn’t always straightforward. These two options serve different purposes and work best for different financial situations. Chapter 7 eliminates most unsecured debts quickly. Chapter 13 reorganizes your debts into a manageable payment plan over…
I frequently hear clients say things like, “I don’t want to file bankruptcy on my car.” You “file on” all debts, but you need to understand what that means. As I tell clients, you must list all your debts when you file bankruptcy under any Chapter of the Bankruptcy Code. That does not, however, mean…
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott Chapter 7 bankruptcy can slow down foreclosure, but it’s not the best way to stop foreclosure. Chapter 7 bankruptcy is the most common
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott If you file a Chapter 7 bankruptcy, you may be faced with having to decide whether to sign a “reaffirmation agreement.” This is the first of a series of posts I’ll do explaining what reaffirmation agreements are, what they do, how they work, along with South…
Bankruptcy Median income figures change again on March 15. Unless your debts are primarily business debts, these figures help the court determine whether or not you must complete the means test portion of the bankruptcy schedules and whether you may qualify for a Chapter 7 bankruptcy, or instead may have to file a Chapter…
Guest Post Written by Mesa, Arizona Bankruptcy Lawyer, Samuel Woodruff While there is no quick solution to getting your credit back on track after filing bankruptcy, there are a few things that you should do. The first year after filing bankruptcy will be the most difficult, and you will most likely not be able to…
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott Let’s face it. Military families are not immune to financial problems. Here in the Charleston, South Carolina area, there’s a strong military presence with the Charleston Air Force Base and the Naval Weapons Station. And let’s not forget that Charleston is a Coast Guard Sector as well.…
Written by Charleston Bankruptcy Attorney, Russell A. DeMott This is another good video post done by my colleague at Bankruptcy Law Network, Kurt O’Keefe. Kurt is a bankruptcy lawyer in Detroit, but the process he describes is the same here in South Carolina. Kurt discusses the Chapter 7 process from filing the case…
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott It happened again today. I got a call about “it.” Specifically, the lady wanted to know how much “it” was. What was the “it” she called about? Well, she said she had a “simple” bankruptcy case and wanted to know how much “it”…
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