South Carolina Bankruptcy Exemptions 2023
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Written by Upsolve Team.
Reviewed September 29, 2021
It's important to understand what the exemptions for South Carolina are and how they're most often used in a bankruptcy case.
How Do Exemptions Work?
When you file for Chapter 7 bankruptcy, one of the biggest questions is whether or not you will be able to keep your property.
That depends on which property exemptions you can use on your bankruptcy forms. They are called exemptions because they “exempt” -- or “excuse” -- certain property from being taken. In most cases, exemptions protect most day-to-day items that you own, unless you have expensive property like a house or a car.
Certain exemptions protect entire categories of property like retirements accounts, regardless of value. Other exemptions only protect specific property like a vehicle up to a certain value.
If you're looking for a deep understanding of bankruptcy exemptions, read this article.
Does South Carolina allow federal exemptions?
South Carolina does not recognize the federal exemptions.
Every state has its own set of property exemptions. And some states also allow you choose between their exemptions and a set of federal bankruptcy exemptions. When they do, they will generally let you to choose the system that is the best fit for you. Although some states allow you to use the federal bankruptcy exemptions, others do not.
South Carolina Exemptions
S.C. Code Ann. § 15-41-30 (11)(A)
Most people use S.C. Code Ann. § 15-41-30 (11)(A) to cover local public assistance benefit. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 15-41-30 (A)(10)
Most people use S.C. Code Ann. § 15-41-30 (A)(10) to cover health aids. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 15-41-30 (A)(11)(a)
Most people use S.C. Code Ann. § 15-41-30 (A)(11)(a) to cover social security. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 15-41-30 (A)(11)(b)
Most people use S.C. Code Ann. § 15-41-30 (A)(11)(b) to cover veterans' benefit. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 15-41-30 (A)(11)(c)
Most people use S.C. Code Ann. § 15-41-30 (A)(11)(c) to cover disability or illness benefits. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 15-41-30 (A)(11)(c)
Most people use S.C. Code Ann. § 15-41-30 (A)(11)(c) to cover unemployment compensation. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 15-41-30 (A)(11)(d)
Most people use S.C. Code Ann. § 15-41-30 (A)(11)(d) to cover alimony or maintenance support. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 15-41-30 (A)(11)(e); S.C. Code Ann. § 15-41-30 (A)(14)
Most people use S.C. Code Ann. § 15-41-30 (A)(11)(e); S.C. Code Ann. § 15-41-30 (A)(14) to cover erisa (employee retirement account). For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 15-41-30 (A)(12)(a)
Most people use S.C. Code Ann. § 15-41-30 (A)(12)(a) to cover crime victims' compensation. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 15-41-30 (A)(12)(b)
Most people use S.C. Code Ann. § 15-41-30 (A)(12)(b) to cover personal injury settlement. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 15-41-30 (A)(12)(b)
Most people use S.C. Code Ann. § 15-41-30 (A)(12)(b) to cover wrongful death awards. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 15-41-30 (A)(12)(c)
Most people use S.C. Code Ann. § 15-41-30 (A)(12)(c) to cover life insurance (debtor was dependent). For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 15-41-30 (A)(13)
Most people use S.C. Code Ann. § 15-41-30 (A)(13) to cover ira & roth ira. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 15-41-30 (A)(2)
Most people use S.C. Code Ann. § 15-41-30 (A)(2) to cover motor vehicle (one). For single debtors filing, it has a coverage limit of $5,900. This exemption has a limit to the number of assets it can cover.
S.C. Code Ann. § 15-41-30 (A)(3)
Most people use S.C. Code Ann. § 15-41-30 (A)(3) to cover household goods and furnishings, books, antiques, art, collectibles, hobby equipment, clothes, animals, crops, musical instruments. For single debtors filing, it has a coverage limit of $4,725.
S.C. Code Ann. § 15-41-30 (A)(4)
Most people use S.C. Code Ann. § 15-41-30 (A)(4) to cover jewelry. For single debtors filing, it has a coverage limit of $1,175.
S.C. Code Ann. § 15-41-30 (A)(5)
Most people use S.C. Code Ann. § 15-41-30 (A)(5) to cover cash & other liquid assets - in lieu of burial or homestead. deposits of money. bonds, mutual funds, or publicly traded stocks. non-publicly traded stock and interests in businesses. government and corporate bonds. security deposits and prepayments. annuities. tax refunds owed to you. unpaid wages. interests in insurance policies. accounts receivable or commissions you already earned.. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 15-41-30 (A)(6)
Most people use S.C. Code Ann. § 15-41-30 (A)(6) to cover tools of trade. For single debtors filing, it has a coverage limit of $1,775.
S.C. Code Ann. § 15-41-30 (A)(8)
Most people use S.C. Code Ann. § 15-41-30 (A)(8) to cover life insurance (unmatured). For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 15-41-30 (A)(9)
Most people use S.C. Code Ann. § 15-41-30 (A)(9) to cover life insurance (unmatured, loan). For single debtors filing, it has a coverage limit of $4,875.
S.C. Code Ann. § 33-41-720
Most people use S.C. Code Ann. § 33-41-720 to cover partnerships. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 38-38-330
Most people use S.C. Code Ann. § 38-38-330 to cover fraternal benefit. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 38-63-40 (A)
Most people use S.C. Code Ann. § 38-63-40 (A) to cover life insurance (beneficiary other than insured's estate). For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 38-63-40 (B)
Most people use S.C. Code Ann. § 38-63-40 (B) to cover life insurance proceeds. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 38-63-40 (D)
Most people use S.C. Code Ann. § 38-63-40 (D) to cover disability and accident benefits. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 38-65-90
Most people use S.C. Code Ann. § 38-65-90 to cover life insurance (group, cash). For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 38-65-90
Most people use S.C. Code Ann. § 38-65-90 to cover life insurance (spouse, child, dependent). For single debtors filing, it has a coverage limit of $50,000.
S.C. Code Ann. § 42-9-360
Most people use S.C. Code Ann. § 42-9-360 to cover workers' compensation. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 43-5-190
Most people use S.C. Code Ann. § 43-5-190 to cover public assistance. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 43-5-190
Most people use S.C. Code Ann. § 43-5-190 to cover blind aged disabled assistance. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 59-2-140
Most people use S.C. Code Ann. § 59-2-140 to cover college trust fund. For single debtors filing, it has a coverage limit of $4,000.
S.C. Code Ann. § 59-4-40
Most people use S.C. Code Ann. § 59-4-40 to cover south carolina tuition prepayment program. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 9-11-270
Most people use S.C. Code Ann. § 9-11-270 to cover police pensions. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 9-13-230
Most people use S.C. Code Ann. § 9-13-230 to cover firefighters' pensions. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 9-8-190
Most people use S.C. Code Ann. § 9-8-190 to cover judges and solicitors. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 9-9-180
Most people use S.C. Code Ann. § 9-9-180 to cover general assembly members. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 9-1-1680
Most people use S.C. Code Ann. § 9-1-1680 to cover public employee pension. For single debtors filing, it has no coverage limit.
11 U.S.C. § 522(b)(3)(C)
Most people use 11 U.S.C. § 522(b)(3)(C) to cover tax exempt retirement accounts. For single debtors filing, it has no coverage limit.
5 U.S.C. §§ 8437(e)(g), 11 U.S.C. § 541(c)(2)
Most people use 5 U.S.C. §§ 8437(e)(g), 11 U.S.C. § 541(c)(2) to cover thrift savings plan. For single debtors filing, it has no coverage limit.
S.C. Code Ann. § 15-41-30 (A)(7)
Most people use S.C. Code Ann. § 15-41-30 (A)(7) to cover wildcard. For single debtors filing, it has a coverage limit of $5,900.
