Why it is important to list potential claims/lawsuits in a bankruptcy

Two years ago I received a phone call from an injury attorney representing a former Chapter 13 client of mine. The client had completed her Chapter 13 bankruptcy within the last 12 months. The attorney said that the client had a pending injury lawsuit and the defendant had filed a motion for summary judgment stating […]

Stopping foreclosure through bankruptcy, loan modifications, or both

Foreclosure article written by South Carolina lawyer Daniel Stone One of the common questions I receive from clients is whether or not they should continue their loan modification packet or just file Chapter 13 bankruptcy to stop the pending foreclosure? This is a tricky answer for most of my clients. Why?  It  depends on where […]

Can bankruptcy stop collection calls?

Yes. By filing bankruptcy either Chapter 7 or Chapter 13 bankruptcy-the collection calls will come to an end. Please note to get the protections of the bankruptcy, a filing with the Court must occur. Simply mailing me a check and a list of creditors does not get your case filed and stop the collection calls. […]

Do both spouses need to file bankruptcy?

This is one of my most popular questions I have from spouses who come to see me to file for bankruptcy protection. Many of the married couples have signed jointly on all their debts to include their mortgages. In their situation, it is usually my advice that they both file since they are both jointly […]

Will I lose my property if I file bankruptcy?

In eleven years of filing bankruptcy cases, I have only had a few clients lose any property or assets in a bankruptcy. Of these clients only one was unexpected. In Chapter 7 and Chapter 13 cases, South Carolina exemptions allow plentiful exemptions to protect most or all your property. For example, say your house is […]

Will anyone find out about my bankruptcy?

Years ago, local newspapers used to list the names of local residents who had filed for bankruptcy. While newspapers still cover big profile filers or companies that effect the public, this archaic practice of trying to humiliate and embarrass people who had filed for bankruptcy has stopped. So can your friends and employers find out? […]

Do I have to go to Court if I file bankruptcy?

Most of my Chapter 7 bankruptcy clients never set foot in bankruptcy court. They do attend a creditors meeting called a 341 hearing at the Strom Thurmond building in Columbia, SC. At the hearing is the chapter 7 trustee, other debtors and debtors attorneys, and in some cases-creditors. In a small percentage of my cases, […]

Are IRS taxes dischargeable in bankruptcy?

IRS tax debt article written by Columbia, SC bankruptcy attorney Daniel Stone Are IRS taxes dischargeable in bankruptcy?  The short answer is some are. The Internal Revenue Services has a specific code section dealing with income taxes and dischargeability in bankruptcy.http://www.irs.gov/irm/part5/irm_05-009-002.html . The code states that in order to be discharged, a few elements must be […]

What is in your pocket ?

Credit card article written by Columbia and Florence attorney Daniel Stone We have all seen the Capital One credit card commercials that ask the question, “What do you have in your pocket”? For my clients, I haven been trying to promote the attitude of “just cash” as the reply to this popular tv commercial. While […]

Why Bankruptcy Shouldn’t Be Your Last Resort

The internet is full of articles as to why bankruptcy should be a person’s last resort in dealing with their debt problems. While I am an advocate of looking at all your debt remedies, I see too many of my clients waiting too long to file bankruptcy and causing harm to themselves and their families […]