Bankruptcy Lawyers

South Carolina.

February 06, 2012

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Bankruptcy News

Undergo Credit Counseling Before Filing For Bankruptcy

Approval Process for Credit Counseling and Debtor Education Courses United States Bankruptcy Administrator Program

United States bankruptcy administrators in Alabama and North Carolina are accepting applications for approval of credit counseling agencies or debtor education course providers as required by the Bankruptcy Abuse and Consumer Protection Act of 2005 ("2005 Bankruptcy Act").

The 2005 Bankruptcy Act requires all individual debtors who file bankruptcy on or after October 17, 2005, to undergo credit counseling within six months before filing for bankruptcy relief and to complete a financial management instructional course after filing bankruptcy.

The 2005 Bankruptcy Act directs the bankruptcy administrator to assess and approve credit counseling agencies and debtor education course providers, according to statuory criteria, and requires the Clerk of Bankruptcy Court to maintain a publicly available list of approved credit counseling agencies and debtor education course providers.

Contact South Carolina lawyers today and get a free consultation!

Did You Know?

Filing Chapter 11 is known as reorganization
In a chapter 11 case, a liquidating plan is permissible. Such a plan often allows the debtor in possession to liquidate the business under more economically advantageous circumstances than a chapter 7 liquidation.

	Newsroom
	News about Bankruptcy in South Carolina and nationwide: Eighth Circuit Court of Appeals Finds that the U.S. Commodity Futures Trading Commission Properly Pursued Charges Against NRG Energy, Inc. in Minnesota District Court August 10, 2006 Eighth Circuit Court of Appeals Finds that the U.S. Commodity Futures Trading Commission Properly Pursued Charges Against... Read more > U.S. Bankruptcy Court Approves SGI's Disclosure Statement For Voting Purposes MOUNTAIN VIEW, Calif.— Silicon Graphics (OTC: SGID) announced today that its Disclosure Statement has been approved by the U.S. Bankruptcy Court fo... Read more > The Honorable Jed Rakoff Approves Settlement of SEC'S Claim for a Civil Penalty Against Worldcom In its Opinion and Order, the Court concluded that "the proposed settlement is not only fair and reasonable but as good an outcome as anyone could ... Read more > More Bankruptcy News >

Bankruptcy Terms

Today's Terms

Trustee

Definition:
An agent of the court who manages the property of the debtor for the benefit of the creditors. The court appoints a trustee in most Chapter 7 cases and in Chapter 11 cases when it determines that the debtor's management should not remain in control.

Straight bankruptcy

Definition:
An informal term for a Chapter 7 bankruptcy or liquidation; used more commonly to describe liquidation before the Bankruptcy Reform Act of 1978.

Skeleton filing

Definition:
Term used at bankruptcy courts to describe a bankruptcy filing in which not all the necessary forms have been filed. Certain courts allow a case to commence if only certain important forms are filed so long as the balance of required forms are forthcoming within a certain period of time.

More Bankruptcy Terms >

Bankruptcy Resources

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Bankruptcy Hot Topics

Topics Related to Bankruptcy:

Chapter 7
Chapter 13
Chapter 11
Chapter 12
Chapter 9

South Carolina Bankruptcy Attorney

If you live in the following cities and need a Bankruptcy attorney you should contact our Bankruptcy Attorney as soon as possible:

Abbeville
Aiken
Anderson
Beaufort
Belton
Bennettsville
Bluffton
Camden
Charleston
Chester
Clemson
Clover
Columbia
Conway
Darlington
Dillon
Easley
Elgin
Florence
Fort Mill
Fountain Inn
Gaffney
Gaston
Georgetown
Goose Creek
Greenville
Greenwood
Greer
Hartsville
Hilton Head Island

Inman
Irmo
Ladson
Lancaster
Laurens
Lexington
Marion
Moncks Corner
Mount Pleasant
Murrells Inlet
Myrtle Beach
Newberry
North Augusta
North Charleston
Orangeburg
Pickens
Piedmont
Rock Hill
Seneca
Simpsonville
Spartanburg
Summerville
Sumter
Taylors
Travelers Rest
Union
Walterboro
West Columbia
York

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