Charleston Liquidation - Bankruptcy Lawyer Chapter 7 bankruptcy is the type that most people think of when they need debt relief. As an experienced bankruptcy attorney in Charleston South Carolina I have handled many Chapter 7 bankruptcy cases. With a few exceptions, Chapter 7 bankruptcy discharges most of your debts, including medical bills, payday loans, credit card debt and even certain tax debts. Moreover, it can delay foreclosure on your home and stop creditor harassment. Chapter 7 of the Bankruptcy Code is the liquidation chapter. It is the preferred method of filing bankruptcy for individuals who want to free themselves of debt in a simple and inexpensive way. Businesses can also use Chapter 7 to liquidate and terminate their business. In my time as a bankruptcy lawyer in Charleston I've seen it to be effective for both. In a Chapter 7 bankruptcy in the state of South Carolina, you do not have to file a plan of repayment as in a chapter 13 case. Instead, your debts are discharged, with the exception of “priority debts” like IRS debt, or school loans. In some cases, (but not many) even these are dischargeable. In most cases, you are allowed to keep most, if not all, of your assets in a chapter 7. Only those assets which are nonexempt will be sold by the trustee to partially satisfy claims of your creditors. Subject to the means test, you can obtain relief from Chapter 7 whether you have $1,000 in debt or $1,000,000 in debt. As your bankruptcy attorney I will go over all of this with you. One of the primary purposes of bankruptcy is to discharge certain debts such as medical bills, credit card debt, payday loans, and most personal loans, to give an honest individual debtor a "fresh start." The debtor has no liability for discharged debts. In a chapter 7 case, however, a discharge is only available to individual debtors, not to partnerships or corporations. 11 U.S.C. § 727(a)(1). Although an individual chapter 7 bankruptcy case usually results in a discharge of debts, the right to a discharge is not absolute, and some types of debts are not discharged. Moreover, a bankruptcy discharge does not extinguish a lien on property. At any rate I'm the bankruptcy lawyer here and I'll figure it out.