South Carolina Bankruptcy Exemptions

Homestead

15-41-30 - Real property, personal property used as homestead, or co-op, up to $50,000.

Personal Property

15-41-30 - Motor vehicle up to $1,200; clothing, household goods, furnishings, appliances, books, musical instruments, animals and crops up to $2,500 total; jewelry up to $500; health aids; personal injury and wrongful death recoveries needed for support.

15-41-30 - IN LIEU OF Homestead: Burial plot up to $50,000.

15-41-30 - IN LIEU OF Homestead AND BURIAL PLOT Cash and other liquid assets up to $1,000.

59-2-140 - College investment program trust fund.

Pensions

11 U.S.C. § 522 - Tax exempt retirement accounts; Traditional and Roth IRAs up to $1,095,000 per person.

9-1-1680 - Public employees.

9-8-190 - Judges and solicitors.

9-9-180 - General assembly members.

9-11-270 - Police officers.

9-13-230 - Firefighters.

15-41-30 - ERISA-qualified benefits; Roth IRAs and IRAs needed for support.

Public Benefits

15-41-30 - Unemployment compensation; Social Security; veterans' benefits; local public assistance; crime victims' compensation.

42-9-360 - Workers' compensation.

43-5-190 - General relief; aid to blind, aged, and disabled.

Tools of Trade

15-41-30 - Tools, books, and implements of trade up to $750 total.

Alimony and Child Support

15-41-30 - Alimony and child support.

Insurance

15-41-30 - Unmatured life insurance contract (but a credit insurance policy is not exempt); disability or illness benefits; life insurance proceeds from a policy for a person you depended upon which is needed for support; life insurance dividends, interest, loan, cash, or surrender value from a policy for a person you depended upon up to $4,000.

38-38-330 - Fraternal benefit society benefits.

38-63-40 - Accident and disability benefits; Group life insurance proceeds' cash value not to exceed $50,000; Life insurance proceeds for a spouse or child if purchased 2 years before filing for bankruptcy.

38-63-50 - Life insurance proceeds if policy prohibits use to pay creditors.

Miscellaneous

33-41-720 - Business partnership property.

Other - Add any applicable Federal Nonbankruptcy Exemptions


HOME BANKRUPTCY STEPS FREE CONSULTATION EMERGENCY FILING


This website contains information related to law and is NOT LEGAL advice. It contents is for information only. If you need legal advice, please consult an attorney or act as your own.
All documents typed are prepared by Rica Gilmore.