South Carolina Bankruptcy Legal Questions

If you didn't file Chapter 13, it isn't your responsibility to pay for the chapter 13 payments. You really do need to make an effort to find an attorney that understands bankruptcy to advise you because you have numerous issues that are time sensitive that you need to address right now, including the issues of your back child support and medical claim.... Read More

Question: Will my wife's credit be affected after I file for bankruptcy? Question Detail: I plan to file for bankruptcy as soon as possible but I was wondering if i get married within a month or so after i filed for bankruptcy would my wife's credit be affected by my file for bankruptcy. *- no, not if she isn't a co-debtor on any of your debts, too ...... it won't affect her credit.*... Read More

Question: Can I file chapter 13 bankruptcy if I'm not behind in my bills but over extended? *- yes, provided, however, that you have enough disposable monthly income to support a confirmable plan * Question Detail: I lost my job. I went from 65,000 to 30,000. My mom helps me pay my bills and she had a heart attack so now Ii don't have her to help and I am starting to get behind in my bills. *- you can file a Chapter 7 if you qualify (sounds like you may very well qualify under the MEANS TEST) or you may file a Chapter 13 *... Read More

In a chapter 7, the trustee looks at your stuff. He is looking for stuff that is both valuable and unprotected. If he finds anything, he takes it and sells it. He uses that money to pay down your debt. Once that money is gone, any debt that qualifies disappears. If you haven't filed a 7 in the last 8 years and you don't make a ton of money, you qualify. Feel free to contact me to discuss your particulars at your convenience.... Read More

You cannot incur new debt in a Chapter 13 case without obtaining bankruptcy court approval.  The only way I could see a bankruptcy court approving an equity loan would be if you are using the loan to pay off 100% of your unsecured debts.  Otherwise, you would simply be increasing your secured debt at the expense of your unsecured creditors. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  CONTACT MARK for more information or to schedule an appointment.   ... Read More

The answer to your question is: it depends. Are you married? Each person has a $15,000 homestead exemption. If you are married, in the home is owned by you and your spouse, each of you are entitled to the $15,000 homestead exemption. That amount would protect the equity you have in your home. You would therefore be able to save your home even if in chapter 7.... Read More

Yes, you may file bankruptcy to postpone the foreclosure process.  Filing a bankruptcy petition puts a "stay" in place preventing the disposition of all your assets, including your home.  The stay would delay the foreclosure process. If you are considering filing for bankruptcy you should immediately consult a local bankruptcy attorney to determine how best to proceed and if bankruptcy is an appropriate path to pursue. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

Question: If I let the bank foreclose would they come after me for the difference or should I file bankruptcy? Question Detail: Tried to get modification, they added 15.6 years, $24K+, lowered % by .875 making it 5% and deferred 85K+ to end of the mortgage (40 years) plus they didn't lower or get rid of my equity line. My home appraises for 228,000 but I owe 285,000+ and equity line 50,000= $335,000 plus fees. They are fixing to add to my equity line. 40 year mortgage and I retire in 15 years. *- If you're that under water with your home, I'd surrender it in bankruptcy if you want, or let them foreclose and file bankruptcy AFTER the deficiency judgment is entered so the def. judgment then becomes a Schedule F unsecured, non priority creditor claim. Do you have any other creditor issues that would warrant you filing bankruptcy? If so, then maybe filing is in your best interest.... Read More

If your lawyer did not inform you of what he/she needs you to bring with you, then you should probably find a different lawyer.  Are you talking about an initial consultation, or information you need for the attorney to file your case?   To get an idea of what I require of my clients, take a look at http://www.bklaw.com/consultprint.pdf Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling exclusively bankruptcy law cases in California since 1991.http://www.bklaw.com/bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/Follow Me on Twitter:  @bklawr  ... Read More

Each attorney will want you to bring different documents.  It would be a good idea to call your attorney and ask he/she what documents he/she wants you to bring. Usually, you should bring your tax returns for the last few years.  It would be a good idea to bring your pay stubs from your employer, and/or proof of any source of income (to qualify for a Chapter 13 you must have a consistent source of income).  Lastly, you might bring copies of all outstanding loans and debts you have.  It would also be beneficial to bring a list of all your assets, as well. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read More

The court filing fee for Chapter 13 is presently $281.  That, of course, is in addition to any attorneys fees.  Attorney fees vary depending on a number of factors, including what is commonly allowed in your jurisdiction. One of the advantages of a CHapter 13 is that the attorneys fees can be taken, in part at least, from the monthly payments you will already be making in the Chapter 13 anyway.  So it can be a very minimal burden. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling exclusively bankruptcy law cases in California since 1991.http://www.bklaw.com/bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/Follow Me on Twitter:  @bklawr  ... Read More

I am confused by your question. Do you have a credit card or a debt from the purchase of a car? My answer will change slightly depending your facts. The bottom line is that the creditor will sue you if you do not pay the debt. Once they obtain a judgment they can garnish wages and/or bank accounts - depending on your state exemption laws. Please understand that filing for bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Most Arizona bankruptcy attorneys offer a free consultation about the basics of bankruptcy.... Read More

Usually, but it depends on a number of different factors which you have not disclosed. Which chapter of bankruptcy are you filing?  In a Chapter 13 or Chapter 11 you can keep your home as long as you maintain and stay current with your ongoing mortgage and other payments due on the property. In a Chapter 7 case, you must do everything listed above, but if there is equity in your property, you might lose it if you don't have sufficient exemptions to cover the equity.  Exemptions are "protections" for value you have in certain assets such that they are "exempt" from collections.  Every state has different exemptions amounts available. Exemption laws are based on the state where you resided for the 2 years prior to filing your bankruptcy case or, if you lived in more than 1 state during that period, in the state where you resided for the greater part of the 180 days prior to that 2 year period. You need to have a consultation with an experienced bankruptcy attorney in your area for more details. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling exclusively bankruptcy law cases in California since 1991.http://www.bklaw.com/bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/Follow Me on Twitter:  @bklawr  ... Read More

Question: How do I qualify for Chapter 7 Bankruptcy? *- you have to qualify under the MEANS TEST which requires that you not have DMI (disposable monthly income) over $100.00 / mo. ...... there are other factors that go into the deciding if you qualify for a Chapter 7, but that is largely determined by your CMI (current monthly income) and allowable expenses* Question Detail: I am in South Carolina.... Read More