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South Carolina State Bankruptcy Exemptions |
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South Carolina State Bankruptcy Exemptions |
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Federal
Bankruptcy Exemptions are available. All law references are to Code of Laws of South Carolina. |
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| ASSET | EXEMPTION | LAW PROVISION |
| Homestead | Real property, including co-op, to $5000 (joint owners may double) | 15-41-30(1) |
| Insurance |
Accident
& disability benefits Benefits accruing under life insurance policy after death of insured, where proceeds left with insurance company pursuant to agreement; benefits not exempt from action to recover necessaries if parties so agree Disability or illness benefits Fraternal benefit society benefits Life insurance avails from policy for person you depended on to $4000 Life insurance proceeds from policy for person you depended on, needed for support Proceeds & cash surrender value of life insurance payable to beneficiary other than insured’s estate expressly intended to benefit spouse, children or dependents of insured unless purchased within 2 years of filing Proceeds of group life insurance Proceeds of life insurance or annuity contract Unmatured life insurance contract, except credit insurance policy |
38-6304(D)
38-63-50 15-41-30(10) ( C) 38-37-870 15-41-30(8) 15-41-30(11) ( C)
38-63040(A) 38-6340( C) 38-63040(B) 15-41-30(7) |
| Miscellaneous |
Alimony,
child support Property of business partnership |
15-41-30(10) (D) 33-41-720 |
| Pensions |
ERISA-qualified
benefits Firefighters General assembly members Judges, solicitors Police officers Public employees |
15-41-30(10) (E) 9-13-230 9-9-180 9-8-190 9-11-270 9-1-1680 |
| Personal Property |
Animals,
crops, appliances, books, clothing, household goods,
furnishings, musical instruments to $2500 total Burial plot to $5000, in lieu of homestead (joint owners may double) Cash & other liquid assets to $1000, in lieu of burial or homestead exemption Health aids Jewelry to $500 Motor vehicle to $1200 Personal injury recoveries Wrongful death recoveries |
15-41-30(3) 15-41-30(1) 15-41-30(5) 15-41-30(9) 15-41-30(4) 15-41-30(2) 15-41-30(11) (B) 15-41-30(11) (B) |
| Public Benefits |
Crime
victims’ compensation Local public assistance Social security Unemployment compensation Veterans’ benefits Workers’ compensation |
15-41-30(11) (A) 16-3-1300 15-41-30(10) (A) 15-41-30(10) (A) 15-41-30(10) (A) 15-41-30(10) (B) 42-9-360 |
| Tool of Trade | Implements, books & tools of trade to $750 | 15-41-30(6) |
| Wages | None | |
| Wild Card | None | |
Thursday January 12, 2006