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What Is The Statement Of Financial Affairs For In A South Carolina Bankruptcy Case

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The Statement of Financial Affairs, or SOFA, contains twenty-eight questions about recent financial transactions that donât fit elsewhere on the free bankruptcy forms for South Carolina. Here are a few of the SOFAâs highlights. First, the SOFA asks about your current marital Status and any past addresses youâve had in the past 3 years. Second, the SOFA asks you to list all sources of income youâve had for the past 3 years from employment, operating a business, investments, family support, government benefits, and even lottery winnings. Third, the SOFA asks about debt payments you made shortly before you filed for bankruptcy.

What Is The Creditor Matrix For In A South Carolina Bankruptcy Case

All of the creditors on your free bankruptcy forms for South Carolina are entitled to receive notice of your bankruptcy case. So when you file for Chapter 7 one of the forms must prepare is a creditor mailing list, often called the Creditor Matrix. The Creditor Matrix simply lists the names of all your creditors and their mailing addresses. The bankruptcy court uses this list to send all required notices to your creditors during your case.

What Is Chapter 11 Bankruptcy In South Carolina

Chapter 11, also referred to as reorganization bankruptcy, refers to a legal proceeding where debtors restructure debts to repay creditors on their own terms. Debtors in a chapter 11 bankruptcy remain in control of their assets and may liquidate or restructure debts to repay creditors within three to five years. Note that creditors must approve the debtors repayment plan, and the court must confirm the repayment plan before it is implemented. The debtors repayment plan must meet the Bankruptcy Codes basic requirements. To get the courts approval, debtors must tender their expected future earnings and monthly expenses when filing for Chapter 11 bankruptcy.

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Can A Bankruptcy Be Expunged In South Carolina

There are no regulations in South Carolina that support the total redaction of bankruptcy. Nevertheless, a bankruptcy stays on an individuals credit rating for a minimum of seven years and a maximum of ten years, depending on the credit reporting agency. After that, the bankruptcy files will only be available at the court since the court recorded the filing for bankruptcy like every other judicial process.

File Your Forms With The South Carolina Bankruptcy Court

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Only bankruptcy attorneys in South Carolina can file petitions electronically. Everyone else has to submit a paper version of all of their bankruptcy forms to the court. While you can file your case by mailing everything to the clerk’s office, many people choose to take the documents in person. That helps avoid any mailing delays. It also gives you the opportunity to correct any errors or add anything thatâs missing right then and there.

Even though the court has locations in Charleston, Columbia, and Greenville, only the Columbia office has a fully staffed bankruptcy clerk’s office. If you plan on heading to Charleston or Greenville to file your Chapter 7 bankruptcy in South Carolina, you should give the clerk’s office a call first to confirm they can assist you with this. When you get to the courthouse, remember that youâll be entering a federal building, which means you will have to pass through building security on your way in.

If you choose to mail your forms in, you can send them to:

U.S. Bankruptcy Court

1100 Laurel Street

Columbia, SC 29201

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What Is The Statement Of Intention For In A South Carolina Bankruptcy Case

On the Statement of Intention for the free bankruptcy forms for South Carolina, you tell the Court what you intend to do with property that is collateral for a secured debt. First, you can choose to surrender the property and erase the debt. Second, you can choose to buy back the property in one lump sum for the current value of the property, which is called âredemption.â Third, you can choose to keep the original debt in place and keep making payments under the loan agreement. This is called âreaffirmation.â On the Statement of Intention, you also chose what to do with yourleases and ongoing contracts from Schedule G. If you want to cancel your lease and erase any debt from it, you check the box to ârejectâ the lease. If you want to keep the lease in place, you check the box to âassumeâ the lease.

What Is Schedule D For In A South Carolina Bankruptcy Case

After property and exemptions, the free bankruptcy forms for South Carolina ask about your debts. Schedule D asks you to list all yoursecured debts. Secured debts are debts that have collateral that can be taken if you donât repay the debt. Common examples of secured debts include a home mortgage or acar loan. These debts cannot be erased unless you surrender the home or car securing the debt.

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How Do You Qualify For Bankruptcy In South Carolina

Per the Bankruptcy Code, persons or entities must have resided or lived for at least three to six months in South Carolina before filing for bankruptcy. All persons or entities can file for bankruptcy in South Carolina if they meet the basic requirements for a particular type of bankruptcy. For example, only fishers and farmers are eligible to file for a chapter 12 bankruptcy. In addition to this, farmers or fishers with debts less than $1,500,000 can file the Chapter 12 bankruptcy petition. Debtors who file for chapter 7 bankruptcy must earn less than the states median income for that household. In contrast, persons or entities earning above the states median income level may file for a Chapter 11 or 13 bankruptcy.

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Qualifying For Bankruptcy In South Carolina

If you’ve never filed for bankruptcy before, you’ll meet the initial requirement. Otherwise, check whether enough time has passed to allow you to file again. The waiting period varies depending on the chapter previously filed and the chapter you plan to file. Learn more about multiple bankruptcy filings.

You’ll also need to meet specific chapter qualifications.

You’ll qualify for Chapter 7 bankruptcy if your family’s gross income is lower than the median income for the same size family in your state. Add all gross income earned during the last six months and multiply it by two. Compare the figure to the income charts on the U.S. Trustee’s website .

Want an easy way to do this online? Use the Quick Median Income Test. If you find that you make too much, you still might qualify after taking the second part of the “means test.” If, after subtracting expenses, you don’t have enough remaining to pay into a Chapter 13 plan, you’ll qualify for Chapter 7.

Qualifying for Chapter 13 can be an expensive proposition because the extra benefits come at a hefty price, and many people can’t afford the monthly payment. To qualify, you’ll pay the larger of:

South Carolina Bankruptcy Lawyers

Being in debt can be a stressful and frustrating experience. Filers in South Carolina turn to a bankruptcy attorney when they are looking for a solution that allows them to eliminate or reduce their debts, to keep their property and deal with their angry creditors. In many cases, filing bankruptcy provides them with the fresh financial start they need. If you are overwhelmed with debt, a South Carolina bankruptcy lawyer can help you through these difficult times.

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Take A Credit Counseling Course

To be eligible for a Chapter 7 bankruptcy in South Carolina you have to complete a credit counseling course in the six months before you file your case with the court. This class takes about 1-2 hours to complete and covers all of your options for debt relief.

Even though most people filing bankruptcy in South Carolina take the class online or over the phone, there are two providers that usually offer this class in person. However, youâll need to check with these providers to ensure this option is still available during COVID-19. The course isnât free, but you may be able to have the fee waived or take the course online for as low as $15.

To be valid, you need to complete the course in the 180 days before you file your case, and you must take it from an approved credit counseling provider. Youâll receive a certificate of completion for the course, which you need to submit to the court along with the rest of your paperwork.

How Do I Find Out If My Bankruptcy Case Is Closed In South Carolina

Bankruptcy Attorneys Serving Charleston County, SC

In South Carolina, a bankruptcy case does not end after a discharge. For creditors, the court, and the assigned trustees to the bankruptcy case, it is still valid and running. After receiving a discharge, the case remains open until the court registers a final decree or an order to close the case. Usually, the closure takes place four months from the filing date. However, the process can take longer if there are non-exempt assets for the bankruptcy trustee to sell. A bankruptcy case can also be reopened if some debts were exempt or in the event of failure to liquidate an asset before discharge. Once a bankruptcy case is closed, the bankruptcy court will send the closing orders to the petitioner or the hired legal representative by mail. Alternatively, to know the status of a bankruptcy case, interested individuals can use VCIS or the Public Access to Court Electronic Records to review the case. Requestors must provide at least the case number using these platforms.

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How To Get South Carolina Bankruptcy Records

Bankruptcy records in South Carolina are accessible in several ways. Interested parties can register on CM/ECF . CM/ECF is a case management and electronic case filing system that provides 24 hours access to court files. VCIS is another method to access bankruptcy files in South Carolina. The Voice Case Information System is an automated voice response system that gives requestors access to bankruptcy information via telephone. The 222-8029 phone number applies to South Carolina residents and other citizens across the nation for free as much as the bankruptcy cases requested are after November 30, 1988. Some bankruptcy information is provided over the phone by entering search criteria using the telephone keys.

Parties can obtain bankruptcy records through PACER . Electronic public access to records attracts some fees called the Electronic Public Access Fee. However, some members of the public are exempted by the court from paying the user access fee. These entities include pro bono attorneys, indigents, bankruptcy case trustees, non-profit organizations, and individual researchers from educational institutions.

On PACER, the Case Filing Stats provides a listing of new cases filed by Division and County for current and previous years. The Archived Retrieval allows access to information on archived cases at the National Archives and Administration.

What Is Schedule C For In A South Carolina Bankruptcy Case

Most people get to keepall their property when they file for Chapter 7 bankruptcy. But keeping your property does not happen automatically when you file for bankruptcy. You need to tellyour trustee why youâre entitled to keep your property. Thatâs what Schedule C of the free bankruptcy forms for South Carolina is for.

Schedule C, you list the âexemptionsâthat protect your property. Exemptions are a set of statutes enacted in each state and by the federal government to protect a certain amount of certain types of your property from creditors. On Schedule C, the first question to answer is what set of exemptions are you selecting: state or federal?

If you have resided in your current state continuously for the past 2 years before filing, you can use your current stateâs exemptions. And if that state is Alaska, Arkansas, Connecticut, District of Columbia, Hawaii, Kentucky, Massachusetts, Michigan, Minnesota, New Hampshire, New Jersey, New Mexico, New York, Oregon, Pennsylvania, Rhode Island, Texas, Vermont, Washington, or Wisconsin, you can also choose to use the federal bankruptcy exemptions. If youâve resided in your current state for less than two years, the choice of exemptions becomes trickier, as explained in this article.

Exemptions are tricky to choose correctly. So you may want to consult a lawyer about this section of the bankruptcy forms for South Carolina or use a free bankruptcy service likeUpsolve.

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Citing Resources In The Web Archive

Citations should indicate: Archived in the Library of Congress Web Archives at www.loc.gov. When citing a particular website include the archived website’s Citation ID . Researchers are advised to follow standard citation guidelines for websites, pages, and articles. Researchers are reminded that many of the materials in this web archive are copyrighted and that citations must credit the authors/creators and publishers of the works. For guidance about compiling full citations consult Citing Primary Sources.

Contact South Carolina Legal Services

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South Carolina Legal Services provides free civil legal services for low income residents of South Carolina. They do not take any criminal cases. If you would like to apply for their services, call the statewide Legal Services Intake Office toll free at 1-888-346-5592 . You can call the intake office line from 9 a.m. to 6 p.m. Monday through Thursday.

Be prepared to answer questions about your income and the type of problem you need help with. Due to limited resources, South Carolina Legal Services is unable to accept everyones case. Intake staff may refer you to another agency for further assistance.

Please note that South Carolina Legal Services does not give legal advice over the phone.

Spanish-speaking applicants and hearing-impaired applicants who have TTY capability should also call the statewide telephone number at 1-888-346-5592. If your primary language is something other than English or Spanish, call the closest Legal Services office to set up an intake appointment.

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What Is Schedule H For In A South Carolina Bankruptcy Case

Schedule D and Schedule E/F of the free bankruptcy forms for South Carolina asked you to list every debt you owe. Now on Schedule H, the Court wants to know whether you have any co-debtors for any of those debts. A co-debtor is someone who is liable for one of your debts if you donât pay it. Common examples of co-debtors are a parent who acted as your co-signer for your car, or an ex-spouse who jointly purchased a home with you and is also listed on your mortgage. Schedule H requires you to list all your co-debtors because your co-debtors are entitled to get notice of your bankruptcy filing.

Information Regarding Coronavirus Disease And Court Operations

The United States Bankruptcy court for the District of South Carolina continues to closely monitor the national response to the Coronavirus Disease . Click here for more information.

HOLIDAY CLOSING

In observance of the Columbus Day Holiday, the United States Bankruptcy Court for the District of South Carolina will be closed on Monday, October 10, 2022. The Court’s CM/ECF system will be available for electronic filing and research.

Welcome to the official website for the United States Bankruptcy Court for the District of South Carolina.

Mission Statement

The Court’s mission is to provide fair and impartial justice within the jurisdiction conferred by the Constitution and Congress by providing debtors with a fresh start and creditors with the resolution of claims in a fair and efficient forum.

WARNING: Scams on the Rise. If you think you’re a victim of a scam, click here for more information.

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Bankruptcy Court: South Carolina

The U.S. Bankruptcy Court for the District of South Carolina maintains a webpage with resources for debtors, creditors, and other interested parties who plan to proceed without an attorney. Choose the Filing Without an Attorney tab and select Debtors, , or Other Interested Parties to access these resources.

Materials for debtors filing their own bankruptcy petitions include information on finding an attorney and free clinics,along with links to the Court’s Frequently Asked Questions, filing checklists, and forms.

You may visit this website by clicking on the image below:

Print Your Bankruptcy Forms

United States Court of Appeals for the District of Columbia Circuit

This is the last step before youâre officially ready to file your Chapter 7 bankruptcy. Make sure you give yourself enough time for this. If you completed the forms on your own and now have them saved as separate files on your computer, creating or using a checklist may be very helpful when it comes time to print.

Youâll need to print your forms on regular, white letter-size paper in black ink. Donât print double-sided. Do be sure to sign in all necessary spots. Finally, double-check that you have printed everything thatâs required and filled out all forms completely. Many filers print a complete second copy of everything they plan to submit to the court when filing bankruptcy in South Carolina. This way, they have a copy for their records.

If youâre using Upsolveâs filling tool, youâll receive your forms packet as a single download. Everywhere you need to sign will be flagged.

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