Domestic Support Obligations in Bankruptcy (Part Three)

Written by Charleston Bankruptcy Attorney, Russell A. DeMott In parts one and two of “Domestic Support Obligations in Bankruptcy,” I explained what a domestic support obligation was and that it’s something you can’t discharge in bankruptcy, regardless of whether you file a Chapter 7 or Chapter 13 bankruptcy. In this post, I’ll address the how…

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Domestic Support Obligations in Bankruptcy (Part Two)

Written by Charleston Bankruptcy Attorney, Russell A. DeMott In “Domestic Support Obligations in Bankruptcy (Part One),” I discussed the Bankruptcy Code’s definition of a domestic support obligation (we’ll call it a “DSO”).   In this post, I’ll address two important bankruptcy considerations regarding DSOs.   First, they are non-dischargeable in any chapter of the Bankruptcy…

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Domestic Support Obligations in Bankruptcy (Part One)

Written by Charleston Bankruptcy Lawyer, Russell A. DeMott At your bankruptcy hearing, you’ll be asked if you have a “domestic support obligation.”   Just what is such a thing? The term was introduced by our relatively new bankruptcy law, BAPCPA (“Bankruptcy Abuse Prevention and Consumer Protection Act”).     The definition is in §101(14A), which…

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South Carolina Bankruptcy Laws

Written by South Carolina Bankruptcy Lawyer, Russell A. DeMott What Are South Carolina Bankruptcy Laws? From time to time clients ask me about filing bankruptcy under “South Carolina bankruptcy laws.”   It’s logical for them to ask this question because they live in places like Mt. Pleasant, Goose Creek, Summerville, or Charleston, South Carolina.  …

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What’s a Redemption?

Written by Charleston Bankruptcy Lawyer, Russell A. DeMott There’s a term you hear in the car business all too often: “upside down.”   You’re upside down on your car loan when you owe more than the car’s worth.   With a procedure available in Chapter 7 bankruptcy called “redemption,” you can use this to your…

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Can Creditors Take My Retirement Funds? (Part Two)

Written by Charleston Bankruptcy Lawyer, Russell A. DeMott In “Can Creditors Take My Retirement Funds ? (Part One)” I discussed the protection offered under both state and federal law for retirement assets such as pensions, 401(k)s, and IRAs.   As I noted in that post, retirement assets are–almost always–fully protected from the reach of creditors…

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The Bankruptcy Means Test (Part Three)

Written by Charleston Bankruptcy Lawyer, Russell A. DeMott In part one and part two of The Bankruptcy Means Test, I explained the shaky foundation of the means test: Current Monthly Income, or CMI for short.   This post will address the issue of what happens when you pass the means test if you have above-median…

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Limits of Bankruptcy (What Bankruptcy Can’t Do)

Written by Summerville Bankruptcy Attorney, Russell A. DeMott If you’re considering filing bankruptcy, you need to know what bankruptcy can do for you.   You also need to have a clear understanding of what bankruptcy cannot do.   Some conduct can result in the bankruptcy court refusing to discharge your debts. Some debts are dischargeable,…

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