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South Carolina Personal Property Exemptions: The Property Creditors Can Not Touch!!!

In a U.S. federal bankruptcy case, your South Carolina lawyers can use state law to protect the equity in your personal property. Listed below are some of the most common types of South Carolina bankruptcy exemptions that a lawyer can use to help keep creditor's hands off your cherished possessions. The South Carolina bankruptcy exemptions below are intended for educational purposes only. They are not intended as legal advice, as their practical application in a U.S. federal bankruptcy case is often very involved. Additionally, the South Carolina bankruptcy exemptions below are not an exhaustive list, therefore you should contact a South Carolina bankruptcy attorney to determine the other types of property that you own which may be exempt.

Homestead South Carolina Bankruptcy Exemptions

These South Carolina bankruptcy exemptions can be used to protect up to $5,000 in equity in your house per person, maximum of $10,000. Unfortunately you can't use these South Carolina bankruptcy exemptions to protect a rental property or a house you are not living in.

Motor Vehicle South Carolina Bankruptcy Exemptions

Your South Carolina bankruptcy lawyers can use these South Carolina bankruptcy exemptions to protect $1,200 in value of any one motor vehicle listed in your U.S. federal bankruptcy. Additionally, if you file the U.S. federal bankruptcy with a spouse a lawyer can use both vehicle South Carolina bankruptcy exemptions to protect up to $2,400 in vehicle equity as long as both you and your spouse are on the title to the car.

Household Furniture South Carolina Bankruptcy Exemptions

These South Carolina bankruptcy exemptions allows your U.S. federal bankruptcy lawyers to protect up to $2,500 of your household furniture in items ranging from your kitchen table to your living room couch.

Life Insurance Proceeds South Carolina Bankruptcy Exemptions

These South Carolina bankruptcy exemptions can protect 100% of the value in life insurance that insured the life of an individual of whom you were a dependent, to the extent reasonably necessary for your support or the support of your dependent(s).

Qualified Retirement Plan South Carolina Bankruptcy Exemptions

Your U.S. federal bankruptcy lawyers can prevent creditors from touching the proceeds of your many types of retirement plans. They can exempt anything from stock bonuses, pensions, profit sharing plans and annuities as long as we determine that your savings match a specific type of retirement plan.

Tools of the Trade, Professional Books South Carolina Bankruptcy Exemptions

These are useful South Carolina bankruptcy exemptions that can be used to protect up to $750 of the tools you use in your profession. For example, shears, scissors and combs are the tools of a hairdresser, as are wrenches and hammers for a mechanic and carpenter.

Unemployment Compensation Benefits South Carolina Bankruptcy Exemptions

Your U.S. federal bankruptcy lawyers can protect all of your unemployment compensation from creditors' reach. However, past due child support may still be deducted from the income of people receiving public assistance.

Worker's Compensation South Carolina Bankruptcy Exemptions

These South Carolina bankruptcy exemptions can help to protect 100% of compensation you receive under South Carolina workers' compensation laws. Your U.S. federal bankruptcy lawyers can protect both 100% of your wages and 100% of the award you receive to compensate you for any permanent disability. In South Carolina, workers' compensation cases are 100% exempt. If you are injured while working then that is money you deserve and creditors will be prevented from reaching those funds.

Learn more about Tennessee bankruptcy exemptions.