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Are Inherited IRAs Exempt?

January 29th, 2014

IRAs enjoy significant protection from creditors and the bankruptcy trustee.  In fact, there are multiple statutory protections. Here in South Carolina--we're an "opt out" state, so if you file bankruptcy here, you must ...
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Pro Bono Representation in South Carolina

January 14th, 2014

"Pro bono" means free. That's not the literal translation of the Latin words, but it's the real meaning. Almost any bar association, whether it's the American Bar Association or various state bar associations like ...
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Payroll Orders in Chapter 13 Bankruptcy

December 1st, 2013

Chapter 13 is about one thing: payments. As I tell my clients, "pay early and pay often." If you fail to make payments, your case gets dismissed and then you're in trouble again. Dismissal ...
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New South Carolina Median Income Figures Announced

November 2nd, 2013

The U.S. Trustee Program announced new median income figures effective for those filing bankruptcy on or after November 15, 2013. The figures are as follows: Household of one: $39,301; household of two: $48,891; household ...
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Filing Bankruptcy in South Carolina and the Government Shutdown

September 29th, 2013

Once again, we're facing a possible federal government shutdown. (See Shutdown Nears as House Votes to Delay Healthcare Law and, for comic relief, Boehner Advises Americans to Delay Getting Cancer for a Year). How will ...
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Chapter 20 Bankruptcy Approved by 4th Circuit Court of Appeals

July 22nd, 2013

If you have second mortgage on your home and have already filed Chapter 7 bankruptcy, filing a Chapter 13 to strip (wipe out) your second mortgage may be a viable option. This strategy ...
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Determining the Value of Your Home for Bankruptcy

June 30th, 2013

Written by Charleston Bankruptcy Lawyer, Russell A. DeMott Determining what the value of your home is when you file your bankruptcy is a difficult, but important, task. Years ago... Years ago, tax assessment values (called various ...
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The MOST IMPORTANT Thing You Need to Know About Bankruptcy and Taxes

June 9th, 2013

Written by Charleston Bankruptcy Lawyer, Russell A. DeMott File your taxes! That's right. Filing your income taxes is the key to discharging tax debt in bankruptcy.  The 3/2/240 rule There are numerous bankruptcy blog posts out there ...
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U.S. Trustee Suspends Debtor Audits

May 13th, 2013

The United States Trustee's Office announced that it has suspended debtor audits. The 2005 Bankruptcy Code (BAPCPA-- "Bankruptcy  Abuse Prevention and Consumer Protection Act") required the audits, which are performed by accounting firms ...
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South Carolina Median Income Update: April, 2013

March 27th, 2013

  Twice a year median income figures are updated. These figures drive the consumer bankruptcy process. If you're the  below median income for your household size, you usually (but not always) qualify for a Chapter ...
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