Bankruptcy Exemptions in South Carolina
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Federal bankruptcy law has outlined certain assets that will be exempt from the bankruptcy process. The goal of exemptions is to allow you to maintain enough assets to start over after bankruptcy. Prior to filing bankruptcy, it is important to discuss your possible exemptions with a South Carolina Bankruptcy Attorney.
Certain states have created their own bankruptcy exemption list and depending on your state, you may be able to choose either the state exemptions or the federal exemptions. Certain states will only allow you to choose the state exemptions.
In the state of South Carolina you are not allowed to use the federal exemptions and will only be able to use the South Carolina Bankruptcy Exemptions.
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