South Carolina Bankruptcy Exemptions

On this page you can find all of the exemptions for South Carolina. Exemptions are the property that you can keep when you file bankruptcy.

CATEGORY
PROPERTY
AMOUNT
STATUTE
Homestead
Real or personal property, including a cooperative, used as residence by debtor or a dependent, OR a burial plot
$56150 (if multiple owners, exemption cannot exceed $112,275/no. of owners)
S.C. Code Ann. § 15-41-30(A)(1)
Motor Vehicle
One motor vehicle
$5,625
S.C. Code Ann. § 15-41-30(A)(2)
Wild Card
Debtor's aggregate interest in any property (unused from other exemptions)
$5,625
S.C. Code Ann. § 15-41 -30(A)(7)
Wages / Wage Garnishment
Earnings from personal services
100%
S.C. Code Ann. §15-39-410
Insurance
Debtor's right to receive, or property traceable to, payments under life insurance contracts insuring life of person of whom debtor was a dependent on the date of death
Amount reasonably necessary for support for debtor & dependents
S.C. Code Ann. § 15-41-30(A)(12)(c)
Insurance
Loan value or accrued interest or dividends in unmatured life insurance contract insuring debtor or person of whom debtor is a dependent
$4,500 less nonforfeiture transfers
S.C. Code Ann. § 15-41-30(A)(9)
Insurance
Cash surrender value or proceeds from group life insurance for the benefit of the insured's spouse, children, or dependents
$50,000
S.C. Code Ann. §38-65-90
Insurance
Unmatured life insurance contract other than credit life
100%
S.C. Code Ann. § 15-41-30(A)(8)
Insurance
Accidental disability insurance benefits
100%
S.C. Code Ann. § 38-63-40(D)
Insurance
Group life insurance benefits
100%
S.C. Code Ann. § 38-63-40(C)
Insurance
Proceeds and cash surrender value of life insurance policy for the benefit of debtor's spouse or dependents and purchased more than 2 years before filing
100%
S.C. Code Ann. §38-63-40
Insurance
Fraternal Benefit Association benefits
100%
S.C. Code Ann. §38-38-330
Personal Property
Personal household furnishings & goods, wearing apparel, appliances, books, animals, crops, or musical instruments of debtor or dependent
$4,500
S.C. Code Ann. § 15-41-30(A)(3)
Personal Property
Debtor's right to receive or property traceable to a crime victim's reparation award or payments on account of bodily injury of debtor or wrongful death or bodily injury of person of whom debtor was or is a dependent
100%
S.C. Code Ann. § 15-41-30(A)(12)(a)
Personal Property
Prescribed health aids of debtor or dependent
100%
S.C. Code Ann. § 15-41-30(A)(10)
Personal Property
Cash & liquid assets of debtor not claiming homestead exemption
$5,625
S.C. Code Ann. § 15-41-30(A)(5)
Personal Property
Personal, family, or household jewelry of debtor or dependent
$1,125
S.C. Code Ann. § 15-41-30(A)(4)
Pensions / Retirement Accounts
State or municipal retirement system benefits
100%
S.C. Code Ann. § 9-1-1680
Pensions / Retirement Accounts
Debtor's interest in ERISA-qualified pension plan
100%
S.C. Code Ann. § 15-41-30(A)(14)
Pensions / Retirement Accounts
Debtor's right to receive Individual Retirement Accounts and Annuities
Amount reasonably necessary for support for debtor & dependents
S.C. Code Ann. § 15-41-30(A)(13)
Pensions / Retirement Accounts
Retirement system for judges & solicitors
100%
S.C. Code Ann. §9-8-190
Pensions / Retirement Accounts
Firemen's pension benefits
100%
S.C. Code Ann. §9-13-230
Pensions / Retirement Accounts
Peace officers' retirement benefits
100%
S.C. Code Ann. §9-11-270
Pensions / Retirement Accounts
General Assembly retirement benefits
100%
S.C. Code Ann. §9-9-180
Tools of the Trade
Implements, books, or tools of trade of debtor or a dependent
$1,675
S.C. Code Ann. § 15-41-30(A)(6)
Public Benefits
Debtor's right to receive Social Security benefits; unemployment compensation; public assistance benefits; veterans benefits; disability, illness or unemployment benefits; alimony, support or separate maintenance; and certain payments under stock-bonus, pension, profit-sharing, annuity, or similar plans.
100%
S.C. Code Ann. § 15-41-30(A)(11)
Public Benefits
Crime victim's compensation
100%
S.C. Code Ann. § 16-3-1300
Public Benefits
Public aid and assistance
100%
S.C. Code Ann. §43-5-190
Public Benefits
Workmen's compensation benefits
100%
S.C. Code Ann. §42-9-360
Miscellaneous
Specific partnership property
100% of partner's interest
S.C. Code Ann. § 33-41-720
Tuition Savings Account
Debtor's interest in a South Carolina Tuition Prepayment Program plan
100%
S.C. Code Ann. §59-4-40

If you want to learn more about filing bankruptcy in South Carolina please visit our FAQ Page or for more information about South Carolina you can visit the South Carolina section.