When you file bankruptcy, you might think you’ll have a trial in a courtroom with a judge ruling on whether you can discharge your debts. Clients in my Charleston, South Carolina bankruptcy practice often have that misconception of the bankruptcy process. It makes sense to think of a judge in a courtroom because that’s how [...]
May 2010
If you work at a large retailer, the store probably offers a “store brand” credit card. If you’re getting stretched and bankruptcy is an option, you should not take advantage of this “benefit.” Bankruptcy lawyers frequently see clients who have charged a large balance on the store’s branded card and are now worried they could [...]
In my previous article, I discussed the purpose for which Chapter 13 bankruptcy was originally intended before the credit card lobby convinced Congress that people who file for bankruptcy are bad people. The October 2005 enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) saw the introduction of a new requirement to file [...]
This has been addressed previously but the question keeps coming up. In figuring out a chapter 13 plan payment, there are several “tests” that must be considered. One test is the “best interests of the creditors” test as set forth under 11 U.S.C. § 1325(a)(4). Basically, we analyze your case as a chapter 7 case [...]
The other day I spoke with a young couple with a history. The wife and her best friend had been friends since they were five years old. They had grown up next to each other and were otherwise always together. When the house next door came available for purchase (at the top of the market) [...]
Avoiding debt collectors is like trying to avoid the wind. Somehow your hair always ends up frazzled. But you are not making it easy for yourself if you use Facebook, MySpace, or other social media. As bankruptcy lawyers, we rarely recommend the “stick your head in the sand” approach to problem solving. Since it doesn’t… [...]
