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…
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…
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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