Bankruptcy Blog

Showell Blades was born in 1960 in Elizabeth City, NC. He is a 1978 graduate of Virginia Episcopal School. He received a B.S. in Industrial Relations from UNC-Chapel Hill in 1982 and a law degree from the University of South Carolina in 1986. He has practiced primarily bankruptcy law since 1990, but has been handling ......

On 1/1/08 new IRS collection standards took effect, which means that the numbers used to determine how much a debtor in bankruptcy should be spending on his monthly budget before there is a “presumption of abuse” changed (a presumption of abuse is not a good thing in a chapter 7 because if there is one, ......

Well, the bad news folks is that right now you cannot modify your mortgage in bankruptcy except in the very rare case where you have a mortgage that has NO, $0, NONE of the equity of the house securing it. What this means is that you have to pay the mortgage back unless the house ......

Well, if you are a bankruptcy attorney or if you are reading this blog (or, if you have not had your head in the sand for the last year), then you know that the U.S. has a mortgage crisis. Home foreclosures and the rate of homes in the foreclosure process rose to a record in ......

Well, we started 2007 in South Carolina wondering if we actually had our $50,000 per debtor homestead exemption, as several parties were debating appealing Judge Burris’s December, 2007 decision giving us the exemption. Happily, no one did and we enjoy an excellant exemption and can protect $100,000 of equity in a married couple’s resid...