South Carolina State Bankruptcy Exemptions
Laws That Keep Your Creditors' Hands Off Your Property
Exemptions are laws passed by every state that allow you to protect certain
types of your property from your creditors when you file bankruptcy-such as
your home, car, pensions and IRAs, motor vehicles, clothing, tools, and other
important property. South Carolina law provides a number of exemptions that
protect your property, and your attorney will be able to advise you on which
exemptions are best for you.
Homestead
$5,000 homestead exemption ($10,000 if multiple owners).
Wages
100 percent of earnings for personal services.
Automobiles
$1,200 in one motor vehicle.
Other Property
$2,500 in household furnishings, goods, clothing, appliances, books,
animals, crops, or musical instruments;$500 in jewelry; cash and other
liquid assets totaling $1,000; $750 in any implements,
professional books, or tools of the trade; all professionally prescribed health
aids.
Note: Exemptions may have changed since our last update. For the latest updates on these property exemptions, speak to a local bankruptcy lawyer.
» Read the complete South Carolina
bankruptcy exemptions here
» Click Here to read the Federal bankruptcy
exemptions.
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