Residents of Horry County, South Carolina file bankruptcy in South Carolina District Bankruptcy Court. 3 courthouses serve the South Carolina District Bankruptcy Court. Horry County is served by the Federal Courthouse at Charleston, SC. 145 King Street, Charleston, South Carolina 29401.
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David Stone has provided legal assistance and counsel to thousands of clients throughout his 30+ year career as a lawyer and attorney in New York, New Jersey and South Carolina, with his one-on-one approach focusing primarily on consumer and business bankruptcy, foreclosure and debt relief related issues involving chapter 7 and chapter 13 bankruptcy clients.
Under federal bankruptcy law, almost all tax-exempt retirement accounts, including 401(k)s, 403(b)s, profit-sharing, and defined-benefit plans, are exempt in bankruptcy. IRAs and Roth IRAs are also protected up to a particular amount.
How to File Bankruptcy in South Carolina for Free. There is a $338 court filing fee for a Chapter 7 bankruptcy. But if you hire an attorney to help with your case, the cost of the attorney will be the biggest cost to file your case.Mar 22, 2022
Chapter 7 is the most common form of bankruptcy for individuals. It is a liquidation bankruptcy, which means that the court sells all your assets for cash and then pays your creditors.
8 Kinds of Debt You Can't Lose in BankruptcyMost back taxes and customs. ... Child support and alimony. ... Student loans. ... Home mortgage and other property liens. ... Debts from fraud, embezzlement, larceny, or from “willful and reckless acts” ... Your car loan, if you want to keep your car. ... Debt that doesn't belong to you.More items...
Most bankruptcy cases can be finished within three months or so, but some can last for years if the debtor has a great deal of property. At the end of a case the debtor will ordinarily receive a discharge order.
If your total monthly income over the course of the next 60 months is less than $7,475 then you pass the means test and you may file a Chapter 7 bankruptcy. If it is over $12,475 then you fail the means test and don't have the option of filing Chapter 7.
In most Chapter 7 bankruptcy cases, nothing happens to the filer's bank account. As long as the money in your account is protected by an exemption, your bankruptcy filing won't affect it.Mar 21, 2022
Generally speaking, in a Chapter 7 proceeding, the following types of debts are not discharged:Debts that were not listed at the start of the case (or debts for unlisted creditors). ... Most student loans (unless repayment would cause the debtor and their dependents undue hardship)Recent federal, state, and local taxes.More items...•Apr 7, 2021
Generally, the types of assets that you can keep in a bankruptcy include:personal items and clothing.household furniture, food and equipment in your permanent home.tools necessary to your work.a motor vehicle with a value up to a certain limit, usually an older vehicle qualifies.certain farm property.
If you're experiencing severe financial difficulties, bankruptcy can provide a path to debt relief and help you get a fresh start.
Not sure what to ask a bankruptcy lawyer? Here are a few sample questions to get you started:
It is always a good idea to research your bankruptcy lawyer prior to hiring. Every state has a disciplinary organization that monitors attorneys, their licenses, and consumer complaints. By researching lawyer discipline you can:
Search our registry of Horry County public court records to download Courthouse and Record Archive Locations and learn about traffic court.
What sort of legal records in Horry County can we help you with? browse our site to learn about tax lien sales and census records and how this relates to the public court records.
In bankruptcy, your retirement withdrawals get treated as income for bankruptcy qualification purposes, and like cash for exemption purposes (most states don't provide much of an exemption for cash). Because these funds lose any protected status once withdrawn, a creditor can use a bank levy to get them.
Also, your Social Security benefits aren't counted as income for qualification purposes when taking the bankruptcy means test. But your Social Security income must be disclosed in your bankruptcy budget, and might still be used to disqualify you if your budget shows a significant amount of disposable income each month.
However, many seniors don't feel comfortable filing for bankruptcy, and it isn't always necessary or even a good idea.
Chances are you'd lose the property in Chapter 7. In Chapter 13, you'd have to make a high Chapter 13 repayment plan payment because you must pay for any property you're not entitled to protect (but you can keep it). Find out what bankruptcy can and cannot do to improve your financial position.
In fact, filing for Chapter 7 bankruptcy can wipe out qualifying debt in a few months. But remember, if you're judgment proof, the creditor likely won't be able to collect for these bills anyway.
When inflation and health care costs are on the rise, it's not uncommon for elderly Americans to seek bankruptcy relief. And while senior citizens enjoy certain advantages over other debtors, bankruptcy won't be the right choice for those who stand to lose a lot of property. Read on to find out about other common issues affecting senior citizens in ...
You hold complete fee simple title to your primary legal residence or life estate to your primary legal residence or you are the beneficiary of a trust that holds title to your primary legal residence.
The Homestead Exemption is a complete exemption of taxes on the first $50,000 in Fair Market Value of your Legal Residence for homeowners over age 65, totally and permanently disabled, or legally blind.
and 5 p.m. The number is 799-7100 in Richland or Lexington Counties, and 1-800-868-2284 from other parts of the state.
The benefit is known as homestead tax exemption and provides that the first $50,000 of the fair market value of the dwelling place, including mobile homes on leased land, shall be exempt from municipal, county, school and special assessment real property taxes.
State property taxes which are actually paid may be fully deductible for federal income tax purpose s if you itemize your deductions on your federal return. If you have any specific questions about the homestead tax exemption contact your county auditor, or your lawyer.