Written by Charleston Bankruptcy Lawyer, Russell A. DeMott
What are "South Carolina bankruptcy laws?" Technically speaking, there really is no such thing as South Carolina bankruptcy law. But this doesn’t mean South Carolina law won’t affect your case.
Our bankruptcy law is found in Title 11 of the United States Code and is federal law. Still, South Carolina law is important. Although bankruptcy law is federal law, state laws control certain aspects of a case.
For example, state law controls your exemptions--how much property you can protect from your creditors. Under South Carolina law, each debtor may exempt up to $51,450 in equity in their residence. (Equity is the value of the property less any mortgages or other liens on the property.)
Another example ...
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Written by Charleston Bankruptcy Lawyer, Russell A. DeMott
Filing bankrupty means listing all your debts. Sometimes I hear clients say that they don't want to "file on" a certain debt. However, you must list ...
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Written by Charleston Bankruptcy Lawyer, Russell A. DeMott
Bankruptcy and financial problems can be scary. And you don't realize how terrifying financial problems can be until you've been there yourself.
I was chatting with my ...
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Written by Charleston Bankruptcy Lawyer, Russell A. DeMott
In a recent decision South Carolina Bankruptcy Judge John E. Waites upheld a debtor’s claim of exemption in his cash value life insurance under South Carolina ...
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Guest Post by Northern Michigan Bankruptcy Lawyer, Paul Slough
There's no shortage of exploitive "get out of debt" offers. One area ripe with abuse is the arena of non-attorneys who prepare ...
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Written by Summerville Bankruptcy Lawyer, Russell A. DeMott
In prior post about the bankruptcy means test, I focused on the means test as being a tool to sort out Chapter 7 bankruptcy cases from ...
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Written by South Carolina Bankruptcy Lawyer, Russell A. DeMott
Many of my recent bankruptcy filings are due to what I call "real estate meltdown." The decline in the real estate market was inconceivable only ...
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Written by South Carolina Bankruptcy Lawyer, Russell A. DeMott
Filing bankruptcy is a family decision. Even with hectic schedules, it's necessary for both the husband and wife meet with me together to discuss bankruptcy ...
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Written by Charleston Bankruptcy Lawyer, Russell A. DeMott
Filing bankruptcy can result in your bank freezing your account if you owe that bank money. It's called "setoff," and I wrote a post warning about ...
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Written by Summerville Bankruptcy Lawyer, Russell A. DeMott
“Passing” the bankruptcy means test doesn’t mean you’re cleared for takeoff for a Chapter 7 bankruptcy. I pointed this out in my last post on the ...
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Written by New York Bankruptcy Lawyer Jay S. Fleischman.
Remember the book, The Scarlet Letter? You know, the one where the woman does something and is marked for the rest of her life with ...
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