Written by Charleston Bankruptcy Lawyer, Russell A. DeMott When people starting thinking of bankruptcy, they wonder about whether their property will be taken. “Will they take my house? Will they take my car?” they ask. That’s where exemptions come in. What are exemptions? Exemptions are laws which allow a debtor to protect a certain amount…
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott Bankruptcy is GOOD for your credit score! “Wait a second!” you say, “bankruptcy ruins your credit for 10 years. Everyone knows that!” False. People come to me with preconceived ideas about bankruptcy. Some even show up and proclaim, “I’m not here to discuss bankruptcy.” If you ask…
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott Bankruptcy lawyers spend almost all their time dealing with the law as it is. After all, we’re not members of Congress. But as I deal with our bankruptcy law here in the U.S., I can’t help but wish it were different. Our bankruptcy law changed in 2005…
Written by Charleston Bankruptcy Lawyer, Russell A. DeMott The United State Supreme Court has held that a debtor cannot claim the auto ownership expense on the Bankruptcy Code’s means test unless the debtor has a payment on the vehicle. Ransom v. FIA Card Services, No. 09-907 (January 11, 2011). Prior to the Supreme Court’s decision,…
Guest post written by Philadelphia Bankruptcy Lawyer, Dan Mueller When I first started taking bankruptcy cases in the 1990s, I rarely had a senior citizen as a client. Today, it is not unusual to see people in their 70s and older in desperate financial straits. (My oldest client is 90.) Most of us assume…
Written by Summerville Bankruptcy Lawyer, Russell A. DeMott Avoiding bankruptcy is a topic I regularly visit with clients. None of my clients want to file bankruptcy if there’s some other viable alternative. And I agree with that approach: explore non-bankruptcy alternatives first, then explore bankruptcy options. One way to avoid bankruptcy is to…
Guest Post Written by Rome, Georgia Bankruptcy Lawyer, Jeff Kelly When filing bankruptcy, if your spouse has not signed any contracts with you, your spouse’s credit score will not be affected by your filing. Before you file bankruptcy, make a list of every single debt you have in the entire world. Next, you should…
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