What is the bankruptcy homestead exemption and how can it help me?

The bankruptcy homestead exemption is a state exemption that allows bankruptcy filers to protect the equity in their home. Without the exemption, a Chapter 7 trustee can take the debtor’s home and a Chapter 13 Trustee could demand a payment that covered the equity in the house. Up until 2007, South Carolina had one of […]

Top 5 reasons why bankruptcy is the best form of debt relief

Bankruptcy is the best form of debt relief for many reasons to include the following Top 5 reasons: 1. Unlike debt consolidation plans, Chapter 7 bankruptcy wipes out/discharges all your unsecured debt. Chapter 13 in most cases wipes all your unsecured debt at only a cost of a few pennies on the dollar. 2. Chapter […]

How bankruptcy can help with tax debt

Tax debt article written by Columbia lawyer Daniel Stone Bankruptcy can be very beneficial to debtors seeking tax relief. Depending on the type of tax debt and age of the debt, bankruptcy can be very helpful. The most significant gains can be seen with federal and state income taxes older than three-years-old. If the income […]

Top 5 assets left of bankruptcy schedules

Here is a list of the top 5 debtor assets left off bankruptcy schedules: 1. Real property to include the debtor home. While most debtors list all their legal and equitable rights to real estate, I list this as number one because leaving this off could have the biggest negative ramifications for the debtor. 2. […]

Venue and Bankruptcy: Which Court do you file your case?

(Note: this post is from a guest writer from Atlanta, GA. Peter Bricks has been a member of the Georgia bar since 2006 and is also a member of the DC bar. If you are looking for a Georgia bankruptcy attorney, click here to see Mr. Brick’s site) As a primarily NorthernDistrict of Georgia bankruptcy […]

How does a bankruptcy attorney get paid?

I get this question all the time- how does a bankruptcy attorney get paid? It is a good question because you would rightly assume that if someone has to file for bankruptcy, they most likely do not have a lot of money sitting around for filing fees. This is why I try to charge very […]

How much does it cost to file bankruptcy?

Bankruptcy costs very on a few factors. First, there is the filing fees that are paid to the U.S. Bankruptcy Court. For Chapter 7 bankruptcy cases, the filing fee is $306.00 and for Chapter 13 bankruptcy cases the filing fee is $281.00. Second, the legal fees for Chapter 7 bankruptcy cases in my office range from $1,000-$1,500 for normal, […]

Is debt consolidation or bankruptcy better for credit card debt?

I am often asked if bankruptcy or debt consolidation is better for dealing with credit card debt. Although I am a bankruptcy attorney, I try to maintain an objective view on other ways of dealing with debt obligations. In theory, debt consolidation is a great idea if it can significantly reduce all the credit card […]

Is child support discharged in bankruptcy?

No. Child support arrearages or future child support obligations are not discharged in either a Chapter 7 or Chapter 13 bankruptcy. Chapter 13 bankruptcy does allow for a debtors child support arrearages to be paid through the Chapter 13 plan. Please note the debtor will have to pay this particular debt at 100 percent in […]

How detailed should my bankruptcy schedules be?

First, I want to stress that ALL creditors and assets must be listed on your bankruptcy. Even if you want to keep the credit card, it must be listed. Even if the gun or boat has very little value, it must be listed. The consequences of failing to list all assets or creditors range from […]