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Rock Hill Bankruptcy Lawyer
Embarrassed about your financial situation? Stressed about how you will take care of your family? Worried about losing your home or friends because of your financial situation? At The Howze Law Firm LLC, we are here to help you sort it through. When you are stressed about debt, it affects not only you but often those closest to you.
Bankruptcy can help eliminate many of your debts, stop foreclosure, and prevent repossession of your car, just to name a few things. However, it is important to understand that bankruptcy cannot fix every problem, and it may not be right for you. At The Howze Law Firm LLC, we will talk you through your options. If bankruptcy is not a good solution, we will let you know.
Your financial situation will not get better on its own. Don’t spend another sleepless night. Bankruptcy may be the solution you need to get a fresh start.
Which Bankruptcy is better to file?
Bankruptcy is based on the facts of each person. There is no one option that is best for everyone. A knowledgeable bankruptcy attorney will get facts about your case to help you determine which option is best for you. The best option is the one that allows you to get a fresh start and eliminate financial stress. After a consultation, we will talk to you about your options and the one that will meet your goals.
When is the best time to file for bankruptcy?
You may have heard that bankruptcy is what you do when you have no other options. Bankruptcy is another option, not a last resort. Often individuals wait too long, and legal rights are lost because they have waited too long to speak to someone. Sometimes it may be in a debtor’s best interest to wait before filing for bankruptcy. Call us to discuss your options. No Judgment.
Bankruptcy Attorney Serving
Rock Hill, York County, Lancaster County, Chester County, Fairfield County, Chesterfield County, Gaffney County, Union County, Spartanburg County
It can be a relief to know that there is a place you can turn to for debt relief with the aid of a seasoned South Carolina bankruptcy lawyer. A bankruptcy lawyer at The Howze Law Firm LLC will put you at ease and steer you through the process based on your specific needs to help you overcome this very challenging time.
Chapter 7 & 13 Bankruptcy
Chapter 7 (Straight Bankruptcy) liquidates the debtor’s assets so that they can be distributed to creditors. This may sound overwhelming, but most debtors do not lose any assets when they file for bankruptcy. South Carolina allows certain exemptions for assets that are protected during bankruptcy.
In a Chapter 13 bankruptcy, the debtor typically keeps their assets in exchange for a payment plan to pay some of his debts. The payment plan is based on future income.
Whether you are just beginning to consider bankruptcy or if you have already filed for bankruptcy, our bankruptcy lawyer at The Howze Law Firm LLC understands what you are up against. We understand that financial stress brings fear and embarrassment. We do not judge and will treat you with respect during this process. Knowing where to turn for help is crucial in saving you resources, time, and energy.
It is a huge advantage to have an experienced bankruptcy attorney at your side to fight for your best interest. Call us today for a consultation with no obligations.
What Our Clients Ask?
What Type Of Bankruptcy Is Best For Me?
It depends. No two situations are the same. Most of the time, individual debtors file a Chapter 13 or Chapter 7 bankruptcy. If you have credit card debt or medical bills, you may be eligible to file Chapter 7 bankruptcy to discharge your unsecured debts. If you want to prevent foreclosure or keep your car and possessions, Chapter 13 might be your best option. Contact The Howze Law Firm LLC to see what option is best for you.
Why Chapter 7 Bankruptcy?
Most bankruptcies filed are Chapter 7. These cases generally take 3-4 months to complete. Chapter 7 does not have a debt repayment plan. Debts are discharged in full and give the debtor an opportunity to start fresh without a lot of debt hanging over their head.
It would not include debt such as student loans, child support or alimony, court fines or penalties, damages caused by driving under the influence, and other exceptions.
How Do I Know If I Qualify For a Chapter 7 Bankruptcy?
To file for a Chapter 7 bankruptcy, you must qualify under the Means Test Limits imposed by Congress. A bankruptcy attorney will collect information regarding your monthly income and expenses to determine if you are eligible. The Means Test sets income limits for households filing for Chapter 7 bankruptcy. You may deduct certain expenses up to IRS guidelines depending on your family size. A bankruptcy attorney can help you with all of this.
Can I File Without My Spouse?
Yes, you can file without your spouse. You can work with your bankruptcy attorney to determine if that is the best option for you. If the debt that you need to get rid of is only in one spouse’s name, then it may not be necessary for both spouses to file. If both spouses are named on debt and only one files, the other spouse is at risk of being pursued by the creditor for payment.
Can I Keep My Car?
Yes. Both Chapter 7 and Chapter 13 allow you to keep your vehicle. In Chapter 7, a debtor is allowed to keep their vehicle by signing a reaffirmation agreement (new contract with the same or similar terms of the original purchase agreement for the vehicle) if the vehicle payments are considered current by the creditor.
Can Creditors Continue To Call Me After I File For Bankruptcy?
Generally, once a debtor files for a Chapter 7 bankruptcy, creditors cannot continue to call. The creditor must stop all collection actions, including foreclosure proceedings and lawsuits.
What Fees Are Associated With Filing A Bankruptcy?
Both Chapter 7 and Chapter 13 bankruptcies have attorney fees. The debtor is also responsible for the filing fees for the court. The Chapter 7 filing fees are $338, and Chapter 13 fees are $313.00. The filing fees are due at the time of filing unless the court approves an installment plan or fee waiver.
How Long Does Bankruptcy Stay On My Credit?
Chapter 13 bankruptcy is deleted seven years from the filing date because it requires at least a partial repayment of the debts you owe. Chapter 7 bankruptcy is deleted 10 years from the filing date because none of the debt is repaid. However, paying your bills on time for about 18 months helps to re-establish a good credit rating which would prove that you can manage your finances sensibly.
How Do I Apply For Bankruptcy Help?
We would be happy to help. Our law office offers consultations by phone. Our bankruptcy lawyer will get some initial information about your debts, assets, expenses, and income to determine which option is best for you. Call us today.
Bankruptcy FAQs
How long does the Bankruptcy process take?
Chapter 7 process normally takes about four to six months. Chapter 13 can last between three and five years.
What is the difference between a Chapter 7 and a Chapter 13 bankruptcy?
In a Chapter 7 bankruptcy, you may ask that the courts discharge most debts. It generally does not include taxes, student loans, alimony, or child support. In return, the trustee can take any property that you own that is not exempted from collections. It is the attorney’s job to help the debtor protect its assets.
In Chapter 13 cases, the debtor requests a repayment plan with the bankruptcy court to pay back a portion or all of the debt over a period of time. You lose no property when filing for Chapter 13 because your repayment plan is based on your current income.
Can I keep my house and car in Chapter 7 bankruptcy?
Yes. In order to keep the house and car in a Chapter 7 bankruptcy, the house and car must be current.
Should I file a Chapter 7 or Chapter 13 bankruptcy?
It will depend on your personal situation. To qualify for a Chapter 7 bankruptcy, you must meet certain income limits and take a credit counseling course. There are some exceptions to the income limits, such as individuals who are disabled veterans, reservists called to active duty, and members of the national guard as well as filers whose debt is more than 50% non consumer debt (business debt).
Can I lower my mortgage payments in bankruptcy?
You cannot lower your payment in Chapter 7. In Chapter 13, you cannot lower the payment, but you may be able to remove a second mortgage. This is called “lien stripping.”
When do I make the first payment in a Chapter 13 bankruptcy?
The first payment is due 30 days after filing. You must make the payment even if you have selected that the payment be made through wage withholding from your employer. If the employer does not make the payment, you must make the payment one of the other ways to the trustee responsible for your case.
What if I can’t make my Chapter 13 payment?
You should notify your attorney immediately. The attorney may be able to file a motion with the court to temporarily stop the payments to keep your case from getting dismissed. These motions are time sensitive, so your attorney must be notified immediately.
Does my spouse have to file for bankruptcy if I file?
The short answer is no. It may benefit both spouses to file if the debt is in both parties’ names. If a bill is in both names and only one spouse files for bankruptcy, the other spouse will still be on the hook for the debt.
How does bankruptcy affect my credit?
Most of the time, your credit has already been affected by delinquent payments. Sometimes debtors’ scores go up because the delinquent debt is removed from the credit report. After bankruptcy, your credit file will list the balance as zero dollars for each debt. The credit file will list that you filed for bankruptcy and those certain debts were delinquent. Many creditors are interested in your current balances. They know you cannot file again for eight years in Chapter 7. That your credit report shows that you owe nothing on a debt improves your credit standing.