How much does it cost to file Chapter 13 in South Carolina?

How much does it cost to file Chapter 13 in South Carolina?

Fee

Chapter Minimum at Filing Total Fee
Chapter 7 $ 95.00 $ 338.00
Chapter 13 $ 100.00 $ 313.00
Chapter 11 (Non-Railroad) $667.00 $ 1738.00
Chapter 12 $125.00 $ 278.00

What is Chapter 13 bankruptcy in South Carolina?

A Chapter 13 bankruptcy is a reorganization or repayment plan. It is one of the most commonly filed chapters in South Carolina. It allows the debtor to keep their property and repay their debt over a time period of three to five years.

What kind of bankruptcy can I file in South Carolina?

Although there are other chapters and options, individuals and families usually file under Chapter 7 or Chapter 13, while corporations will usually file under Chapter 11. This type of South Carolina bankruptcy usually applies to families or individuals with large amounts of unsecured debt and insignificant means for income.

How does Chapter 13 work in South Carolina?

South Carolina Bankruptcy Law. Under a chapter 13 bankruptcy, a debtor proposes a 3-5 year repayment plan to the creditors offering to pay off all or part of the debts from the debtor’s future income.

When do you need to file a chapter 13 bankruptcy?

If a debt management plan is developed during required credit counseling, it must be filed with the court. A chapter 13 case begins by filing a petition with the bankruptcy court serving the area where the debtor has a domicile or residence.

When to file for Chapter 11 bankruptcy in SC?

SC Bankruptcy : Chapter 11. If a corporation is facing economic instability, the owner may choose to file for Chapter 11. This type of bankruptcy allows the company a grace period to reorganizes its finances, employees, and logistics in order to reduce its overall owed debt.

Previous Post Next Post