South Carolina Economy:

South Carolina economy is a leader in the Aerospace, Agribusiness, Automotive, and Manufacturing industries.

South Carolina Bankruptcy Court Location(s):

Charleston
King and Queen Building
145 King Street, Room 225
Charleston, SC 29401

Columbia
J. Bratton Davis U.S. Bankruptcy Courthouse
1100 Laurel Street
Columbia, South Carolina 29201-2423

Spartanburg
Donald S. Russell Federal Building
& U.S. Courthouse
201 Magnolia Street
Spartanburg, South Carolina 29306

South Carolina State Exemptions:

⦁ Homestead exemption. Up to $60,975 in equity in a home or real estate that you use as a residence. Married couples can double the exemption, bringing it to $121,950. (§ 15-41-30(A)(1))

⦁ Personal property. Up to $4,725 in animals, appliances, books, clothing, crops, furniture, household goods, and musical instruments; $59,100 for a burial plot and $5,900 in cash if not using the homestead exemption; health aids; $1,175 in jewelry; personal injury and wrongful death recoveries for a person that you depended on for support (§§ 15-41-30(A)(1)-(8)); up to $3,000 in three guns (rifle, shotgun, or pistol)(§ 15-41-30(A)(15)); college investment program trust fund (§ 59-2-140).

⦁ Motor vehicle exemption. Up to $6,100 of equity in a motor vehicle. (§ 15-41-30(A)(2))

⦁ Tax-Exempt retirement accounts. ERISA-qualified benefits (also protected to a certain limit under federal law 11 U.S.C. § 522(b)(3)(C); your share of a pension plan fund (§ 5-41-30(10)(E),(14)); firefighters. (§ 9-13-230); general assembly members (§ 9-9-180); judges, solicitors (§ 9-8-190); police officers (§ 9-11-270); public employees (§ 9-1-1680). (For information about IRAs and more, see  Your Retirement Account in Bankruptcy.)

⦁ Public benefits. General relief and aid to the elderly, blind, or disabled (§ 43-5-190); local public assistance (§ 15-41-30(A)(11)); Social Security (§ 15-41-30(A)(11)); unemployment compensation (§ 15-41-30(A)(11)); veteran’s benefits (§ 15-41-30(A)(11)); workers’ compensation (§ 42-9-360).

⦁ Tools of trade. Up to $1,775 in tools, books, and other implements needed in your trade or profession. (§ 15-41-30(A)(6)).

⦁ Life insurance. Accident, disability, or illness benefits (§ 15-41-30(A)(11), § 38-63-40(D)); proceeds and cash surrender values of life insurance for the insured’s spouse, children, or dependents (not the estate and the amount is limited if the insured purchased the policy within two years of the bankruptcy filing) (§§ 38-63-40(A), 15-41-30(A)); group life insurance proceeds up to a particular amount (§ 38-63-40(A)); any life insurance or annuity benefits exempt from creditors under the contract (§ 38-63-40(B)); life insurance benefits received upon death (§ 38-63-50); fraternal benefit society benefits (§ 58-37A-18); an unmatured life insurance contract (other than a credit insurance policy); any dividend, interest or loan value of an unmatured life insurance contract up to $4,875 (§ 15-41-30(A)(8),(9)).

⦁ Miscellaneous. Alimony and child support (§ 15-41-30(A)(11)(d)); some partnership property (§ 33-41-720).

⦁ Wildcard exemption. You can use unused exemption amounts up to $5,900 for any type of property. (§ 15-41-30(A)(7)