Written by Charleston Bankruptcy Lawyer, Russell A. DeMott Chapter 13 bankruptcy is more involved that Chapter 7 bankruptcy. There are things you can do in Chapter 13 that can’t be done in a Chapter 7. This video post gives a good overview of Chapter 13–what you can do and what you can’t do.…
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Written by Charleston Bankruptcy Lawyer, Russell A. DeMott In parts one, two, and three, I explained secured debt, liability, how the automatic stay comes into play with reaffirmation agreements, and my opinion about whether you should sign a reaffirmation agreement. I left off with dealing with a situation in which you have equity in…
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Written by Charleston Bankruptcy Lawyer, Russell A. DeMott In parts one and two, I explained secured debts, liability, and some history behind the law of reaffirmation agreements. I left off by pointing out that if a debtor fails to sign a reaffirmation agreement, the automatic stay is lifted earlier than normal. What the secured…
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Written by Charleston Bankruptcy Lawyer, Russell A. DeMott In “Bankruptcy Reaffirmation Agreements (Part One)” I explained that reaffirmation only applies to secured debt on personal property. I also explained that it only applies to Chapter 7 cases, not Chapter 13 cases. In this post, I’ll explain what reaffirmation agreements do and whether you…
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Written by Summerville Bankruptcy Lawyer, Russell A. DeMott During a recent bankruptcy hearing, one of our Charleston Chapter 7 trustees said, “I believe in life after bankruptcy.” He said that to a very nervous debtor attempting to calm her nerves. What the bankruptcy trustee said was not only true, but it was an act…
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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…
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I’ve gotten the panicked calls from bankruptcy clients. “They’ve frozen my account!” And the “they” is the bank or the credit union. (I’ll just call them both “the bank” from here on out.) One of the first things I tell bankruptcy clients–and it’s on the initial handout you’ll get from me–is not to…
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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…
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I don’t like credit card issuers. They are the financial equivalent of drug pushers. They get you hooked, and as long as you don’t overdose, they make huge sums of money from interest, merchant fees, processing fees, over-the-limit fees, and late fees. Fees, fees, fees. In the year before they bought our current bankruptcy…
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I have a confession to make. I feel sorry for creditors’ attorneys. Most of the time they represent institutions–faceless corporations. They deal with someone in the bankruptcy or loss mitigation department. They don’t have a human being for a client. Someone once said the big choice lawyers must make when they begin their practices is…
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