The Means Test determines whether you qualify for relief under Chapter 7 and, if you file Chapter 13, what your plan payment will be. https://www.justice.gov/ust/means-testing To qualify for Chapter 7, according to the Means Test, your monthly income less reasonable expenses (some actual expenses & some local/national standards) must be less than the “median income” for South Carolina. If… Read More »The Means Test
Exemptions are a very important part of your bankruptcy. In a Chapter 7 liquidation, the property that you are permitted to keep is the property that qualifies as exempt under state law. If there is a judgment lien or lien in “household goods” on exempt property, we can file a Motion asking the bankruptcy court to avoid… Read More »Exemptions
Reasons to file Chapter 13 To qualify for a Chapter 13 you must demonstrate, through your bankruptcy documents, that you can pay into a 60 month plan the amount required by the bankruptcy code: What goes into a Chapter 13 plan payment? Read More If your income requires you to file a Chapter 13, the Bankruptcy Code… Read More »Chapter 13 Bankruptcy
To qualify for Chapter 7, your monthly income less reasonable expenses must be less than the “median income” for South Carolina. Read more about Chapter 7. Chapter 7 allows you to eliminate unsecured debt such as credit card debt, medical bills, and auto repossessions. Liens, like mortgages and car loans, are not changed by Chapter 7. With the exception… Read More »Chapter 7 Bankruptcy
The automatic stay is a very important part of bankruptcy protection that takes effect when your case is filed with the South Carolina Bankruptcy Court. The automatic stay stops all collection action. “The automatic stay is one of the fundamental debtor protections provided by the bankruptcy laws. It gives the debtor a breathing spell from… Read More »Automatic Stay
Once you have started preparing your bankruptcy, you can use consumer protection laws to stop creditors from calling you, for family and your employer. After we complete your retainer agreement together, I will give you instructions to direct creditors to call my office for the duration of your case preparation. Redirecting calls because of representation… Read More »Stop Creditor Harassment
Garnishments are stopped immediately by both Chapter 7 and Chapter 13. Chapter 7 will not discharge the underlying student loan debt, some tax debt and tax liens causing the garnishment. If the garnishment is from tax debt assessed within the last three years or a tax lien, the garnishment may resume after Chapter 7. Tax… Read More »Stop Wage Garnishment and Handle Tax Debt & Liens
Foreclosure lawsuits are stopped immediately by Chapter 13 or Chapter 7. However, only Chapter 13 provides a way to force the creditor to accept repayment of a past due amount. Repossession efforts are stopped immediately by both Chapter 7 and Chapter 13, however, how the debt is managed depends on the Chapter that you file.… Read More »Stop Foreclosures & Repossessions
Repossessions and evictions can be completely eliminated (“discharged”) in Chapter 7. It is important to surrender possession if you want to eliminate a lease or mortgage debt. In Chapter 13, past repossessions and evictions must be paid starting at 1%. Increases may apply based on your income and assets. Judgments, which last for ten years,… Read More »Discharge Repossessions and Evictions
Discharge Finance Companies & Personal Loans How small loans are handled depends on whether you executed a Security Agreement when you obtained the loan and, if so, what property did you list on the agreement? If it’s just a signature loan (no property listed) the debt can be eliminated in Chapter 7 or paid the… Read More »Discharge Finance Companies Personal Loans