|District:||South Carolina Bankruptcy Court|
|Nature of debt:||********|
Chapter 7 Bankruptcy Information
A chapter 7 bankruptcy case begins with the debtor filing a petition with the bankruptcy court serving the area where the individual lives or where the business debtor is organized or has its principal place of business or principal assets. (in this case that would be South Carolina) In order to be eligible for Chapter 7 bankruptcy you will have to pass the means test. This test looks at your income level compared to the median income level of your state, again in this case that state would be South Carolina. The courts must charge a $245 case filing fee, a $75 miscellaneous administrative fee, and a $15 trustee surcharge. Normally, the fees must be paid to the clerk of the court upon filing. Most people assume that you will lose all your property in the Chapter 7 Bankruptcy process but there are actually many federal exemptions and state exemptions for South Carolina.
Walter William Smith, III (Party)