Divorce and Bankruptcy Law in South Carolina
Filing for bankruptcy and divorce can be overwhelming, but an experienced attorney can help. At the Stone Law Firm, we have been providing top-quality bankruptcy and divorce services to Columbia and Irmo residents. Our bankruptcy lawyers have experience in debt resolution cases and can assist with simple or complex bankruptcy filings. Clients often come to us when they are also contemplating divorce. We can work closely with your South Carolina divorce attorney to determine the optimal time to file a Chapter 7 or Chapter 13 bankruptcy. We can also work with you and your divorce attorney to determine the specific strategies to maximize the amount of assets that bankruptcy can help both save your your assets but also eliminate unsecured debts such as credit card debts, medical debts, and tax debts.
We hear the same questions from prospective clients who come to see us for bankruptcy and divorce issues. Some common questions are, (1) is it better to declare bankruptcy before or after divorce, (2) how does bankruptcy affect your ex-spouse, (3) can bankruptcy affect a divorce settlement. As to question one, there is not a perfect answer. To assist a client, we do an in depth interview and also speak with your divorce attorney to craft a plan that is right for you. Question number two is often asked because even though two people are divorcing, they often still care about their ex spouse and do not want to cause harm to them. We will carefully explain how bankruptcy could affect an ex-spouse at the consult.
As to question three, one of the most common issues we see in bankruptcy court is divorce settlement issues. Our firm can help you in a situation like this negotiate or litigate this common issue in South Carolina Bankruptcy Court. This issue can be messy and can make or break a Chapter 13 bankruptcy. Bankruptcy often collides with divorces issues such as alimony, equitable distribution of marital assets, property settlement agreements and child support.
Please note that Chapter 13 bankruptcy is the only mechanism in bankruptcy court to discharge a family law property settlement agreement. However, Chapter 13 bankruptcy can only discharge a property settlement.Any settlement that includes support such as alimony or child support must be paid at 100 percent in a Chapter 13 plan. This issue is often litigated in bankruptcy court to determine if the agreement is in the nature of property or support. Due to the complex nature of this issue, please feel free to call our office to see if your settlement can be discharged in a Chapter 13.
When considering bankruptcy and divorce, it is important to retain experienced a bankruptcy attorney to handle your case. A Columbia bankruptcy attorney can provide valuable information to help you make informed decisions, including which type of bankruptcy to file, Chapter 7 or Chapter 13, the tax implications involved, and which items you qualify to keep in Columbia, SC.
If you are filing for bankruptcy and divorce in Columbia or other locations throughout South Carolina, please feel free to contact the Stone Law Firm to schedule an in person, phone, or zoom consultation. Our team is dedicated to providing personalized care and attention to detail to help you navigate the bankruptcy and divorce process and find relief from overwhelming debt.
We have offices in Irmo, Columbia, Florence, and Greenville. We also assist consumers for the whole state of South Carolina to include Orangeburg, Sumter, Aiken, Spartanburg, and Charleston. Call today for a free consult.