{"id":286874,"date":"2021-04-23T07:50:19","date_gmt":"2021-04-23T12:50:19","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/bankruptcy\/bankruptcy-laws-by-state\/south-carolina-bankruptcy-exemptions-and-law.html"},"modified":"2021-04-23T07:58:24","modified_gmt":"2021-04-23T12:58:24","slug":"south-carolina-bankruptcy-exemptions-and-law","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/bankruptcy\/bankruptcy-laws-by-state\/south-carolina-bankruptcy-exemptions-and-law.html","title":{"rendered":"South Carolina Bankruptcy Exemptions and Law"},"content":{"rendered":"\n<div class=\"wp-container-core-columns-is-layout-9d6595d7 fl-sectionWithSidebar fl-container fl-flex fl-flex-wrap fl-gap30\">\n    \n    <div class=\"fl-page-articles fl-section-main fl-section-main-full-width\">\n        <h1 class=\"fl-no-margin-top\">South Carolina Bankruptcy Exemptions and Law<\/h1>\n<section class=\"fl-gutenberg-byline\">\n    <div class=\"fl-gutenberg-byline-content\">\n                    By <a href=\"https:\/\/www.findlaw.com\/company\/our-team.html\">Bret Thurman, J.D.<\/a> | Legally reviewed by <a\n                href=\"https:\/\/www.findlaw.com\/company\/our-team\/joseph-fawbush-esq\/\">Joseph Fawbush, Esq.<\/a>\n                | Last updated\n        <time>\n                            April 23, 2021\n                    <\/time>\n    <\/div>\n\n    \n    <details class=\"fl-gutenberg-byline-toggle fl-gutenberg-byline-legally-reviewed\">\n        <summary>\n            <i class=\"fl-gutenberg-byline-icon\" aria-hidden=\"true\"><\/i>\n            Legally Reviewed\n        <\/summary>\n\n        <div class=\"fl-gutenberg-byline-toggle-content\">\n            <p><em>This article has been written and reviewed for legal accuracy, clarity, and style by <a href=\"https:\/\/www.findlaw.com\/company\/our-team.html\">FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with <a href=\"https:\/\/www.findlaw.com\/company\/company-history\/editorial-policy.html\">our editorial standards<\/a>.<\/em><\/p>\n\n        <\/div>\n    <\/details>\n\n    <details class=\"fl-gutenberg-byline-toggle fl-gutenberg-byline-fast-checked\">\n        <summary>\n            <i class=\"fl-gutenberg-byline-icon\" aria-hidden=\"true\"><\/i>\n            Fact-Checked\n        <\/summary>\n\n        <div class=\"fl-gutenberg-byline-toggle-content\">\n            <p><em>The last updated date refers to the last time this article was reviewed by FindLaw or one of our <a href=\"https:\/\/www.findlaw.com\/company\/our-team\/contributing-authors.html\">contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please <a href=\"https:\/\/lawyers.findlaw.com\/?fli=bylinelink\" target=\"_blank\" rel=\"noopener\">contact an attorney in your area<\/a>.<\/em><\/p>\n\n        <\/div>\n    <\/details>\n<\/section>\n<blockquote>Most people in South Carolina, and throughout the country, live from hand to mouth. Two-thirds of Americans have&nbsp;<a href=\"https:\/\/www.gobankingrates.com\/saving-money\/savings-advice\/americans-have-less-than-1000-in-savings\/\" target=\"_blank\" rel=\"noopener\">less than $1,000<\/a>&nbsp;in savings. A large number of these families have no savings at all. As a result, most households are unable to weather the financial storms which almost inevitably occur in life.<\/blockquote>\r\n<h2>The Benefits of Bankruptcy<br>\r\n<\/h2>\r\n<p>These storms come in various forms. They include job loss, serious illness or injury, economic downturn, and divorce or separation. These different storms have at least one thing in common. For the most part, debtors have little or no control over these situations.<\/p>\r\n<p>A <a href=\"https:\/\/lawyers.findlaw.com\/bankruptcy-law\/south-carolina\/?fli=dcta\" target=\"_blank\" rel=\"noopener\">South Carolina bankruptcy attorney<\/a> helps you regain control over your own financial situation. Bankruptcy is usually the only way to get off the revolving debt treadmill. This federal debt relief program also gives families the time they need to repay debt on their own terms. Generally, debtors get to keep most or all of their property during this process. Keep reading to learn more about bankruptcy laws and property exemptions.<\/p>\r\n<h2><a><\/a><a id=\"Basics\"><\/a>South Carolina Bankruptcy Law<\/h2>\r\n<p>A <i>Monopoly<\/i> bankruptcy ends the game for players who declare bankruptcy. A real-life bankruptcy, on the other hand, gives you a fresh start. This fresh start means different things to different people in different situations.<\/p>\r\n<h3>Bankruptcy 101<\/h3>\r\n<p>Breathing room is an essential element of a fresh start. Unfortunately, since the Supreme Court has diluted some protections in the Fair Debt Collection Practices Act and other federal law provisions, this breathing room is hard to come by. The <a href=\"https:\/\/www.findlaw.com\/bankruptcy\/what-is-bankruptcy\/benefits-of-bankruptcy.html\">automatic stay<\/a> is normally the only way to stop adverse creditor actions like:<\/p>\r\n<ul>\r\n<li>Foreclosure<\/li>\r\n<li>Utility shutoff<\/li>\r\n<li>Wage garnishment<\/li>\r\n<li>Repossession<\/li>\r\n<li>Bank account levy<\/li>\r\n<li>Eviction<\/li>\r\n<\/ul>\r\n<p>Typically, Section 362 of the Bankruptcy Code (the automatic stay) takes effect instantly and stays in effect until the judge closes the case. Creditors can normally only bypass the automatic stay if the debtor threatens the property at stake (for example<i>,<\/i> if you tell them &quot;I&#8217;m going to burn down my house rather than have you take it from me&quot;). If you have filed bankruptcy within the past six months, the automatic stay might be limited.<\/p>\r\n<p>The automatic stay is only one of bankruptcy&#8217;s benefits. It is also impossible to get a fresh start if you are still paying unsecured debts, such as:<\/p>\r\n<ul>\r\n<li>Payday loans<\/li>\r\n<li>Credit cards<\/li>\r\n<li>Signature loans<\/li>\r\n<li>Medical bills<\/li>\r\n<\/ul>\r\n<p>Fortunately, the bankruptcy judge can <a href=\"https:\/\/www.findlaw.com\/bankruptcy\/debt-relief.html\">discharge<\/a> these debts. \u201cDischarge&quot; means the judge eliminates the legal obligation to pay the debts.<\/p>\r\n<p>Discharge, or rather the possibility of discharge, also gives your lawyer leverage in debt negotiations. Creditors know that unless they make a favorable deal, you could legally walk away from the debt, leaving them with little or nothing. That makes them more likely to work out a deal that is beneficial to you.<\/p>\r\n<h3>Types of South Carolina Consumer Bankruptcies<\/h3>\r\n<p>Credit cards and the other aforementioned obligations are unsecured debts, meaning their is no collateral attached to the loan. Put simply, in an unsecured loan the lender does not have the option of taking back property if you fail to make payments on time. <a href=\"https:\/\/www.findlaw.com\/bankruptcy\/chapter-7.html\">Chapter 7<\/a> discharges unsecured debts in as little as six months. Generally, these debtors may choose which obligations the judge discharges and which ones they want to pay. For example, if Betty has a good relationship with her doctor, she might want to pay his bill, even though it&#8217;s dischargeable in bankruptcy.<\/p>\r\n<p><a href=\"https:\/\/www.findlaw.com\/bankruptcy\/chapter-13.html\">Chapter 13<\/a> is usually ideal for people dealing with past-due mortgage payments and other secured debt delinquency. This form of bankruptcy gives these debtors up to five years to erase these obligations. Since the Automatic Stay remains in effect, creditors must accept the payment plan proposal, as long as it meets certain legal requirements.<\/p>\r\n<p>A \u201cChapter 20&quot; bankruptcy is available in some jurisdictions. This type of bankruptcy isn&#8217;t in the bankruptcy code, but involves filing for Chapter 13 bankruptcy after initially filing for Chapter 7. It is easiest to understand using an example.<\/p>\r\n<p>Assume Bruce files Chapter 7 mostly to eliminate back taxes. However, the judge rules the debt cannot be discharged. Taxes and certain other priority unsecured debts (like student loans) are only forgivable in some situations. Many courts would allow Bruce to immediately file a Chapter 13. He would be ineligible for a discharge. But Bruce does not want or need a discharge. He just needs time to repay the IRS, which is what Chapter 13 gives him.<\/p>\r\n<h2><a id=\"Eligibility\"><\/a>Am I Eligible for Bankruptcy in South Carolina?<\/h2>\r\n<p>Most people qualify for bankruptcy in the Palmetto State. However, there are specific eligibility requirements for the different types of bankruptcy.<\/p>\r\n<h3>Official Eligibility<\/h3>\r\n<p>All debtors must meet nonfinancial and financial eligibility requirements. You must complete a pre-filing credit counseling course as well as a post-filing credit management class. These brief and inexpensive courses are typically available online.<\/p>\r\n<p>Financially, Chapter 7 debtors must meet the means test. Their annual incomes must be below average for that state. As of November 1, 2020, a South Carolina family of four must earn less than $85,227. If you are at or above that level, you still have legal options, even a Chapter 7, with a lawyer.<\/p>\r\n<p>Debt ceilings apply in Chapter 13. As of January 1, 2021, these debtors must have less than $400,000 in unsecured debt and $1.4 million in secured debt. These amounts usually change frequently so be sure to check with your bankruptcy lawyer.<\/p>\r\n<h3>Unofficial Eligibility<\/h3>\r\n<p>The informal filing requirements vary in different jurisdictions. Since these rules are unwritten, only an experienced South Carolina bankruptcy lawyer is familiar with them.<\/p>\r\n<p>As mentioned, Chapter 7 is for people who need a fresh start to escape the burden of unsecured debt. Unless this burden is measurable (the debtor is in the red every month on an income\/expense basis), the trustee (person who oversees the bankruptcy for the judge) might question the need for Chapter 7.<\/p>\r\n<p>The opposite informal qualification usually applies in a Chapter 13. These debtors must have sufficient disposable income to fund a rather large monthly debt consolidation payment. This payment must erase all allowed claims, mostly secured debt delinquency, within the time prescribed by law.<\/p>\r\n<p>On a related note, the trustee does more than review paperwork and set up payment plans. Trustees normally request obscure financial documents with little notice. Unless debtors timely produce these documents, the judge could dismiss the case.<\/p>\r\n<h2><a id=\"Exemptions\"><\/a>South Carolina Bankruptcy Exemptions<\/h2>\r\n<p>Outside bankruptcy, creditors often do not need court orders to seize your hard-earned assets. In a bankruptcy, property exemptions protect your property.<\/p>\r\n<h3>Formal Exemptions<\/h3>\r\n<p>South Carolina doesn&#8217;t allow debtors to use federal exemptions. The formal state bankruptcy exemptions, which are found in the <a href=\"https:\/\/www.scstatehouse.gov\/code\/t15c041.php\" target=\"_blank\" rel=\"noopener\">Civil Remedies and Procedures Code<\/a>, include the following:<\/p>\r\n<ul>\r\n<li><b>Homestead exemption:<\/b> South Carolina law protects up to $60,975 of equity for single bankruptcy filers. Unless you have owned your home for more than half the loan period, you probably have little home equity. This is good for bankruptcy filers, as it means they may be able to keep their home.<\/li>\r\n<li><b>Motor vehicle:<\/b> This same principle applies to the $6,100 single motor vehicle equity exemption. Most used vehicles have almost no dollar value, especially if they need minor work or have been in a minor accident.<\/li>\r\n<li><b>Personal property:<\/b> Debtors may protect up to about $9,000 worth of firearms, clothing, jewelry, appliances, and other household goods. The as-is cash value of individual items is usually almost nothing. These values must be declared on Schedule C.<\/li>\r\n<li><b>Retirement accounts:<\/b> Public and private retirement nest eggs are normally 100 percent exempt, no matter how much money they contain. The exemption might not apply to inherited retirement accounts.<\/li>\r\n<li><b>Government payments:<\/b> Many families depend almost entirely on VA disability, Social Security, and other government benefits. These payments are 100 percent exempt. On a related note, most insurance payments and personal injury settlements are also exempt.<\/li>\r\n<li><b>Wildcard: <\/b>South Carolina debtors may apply up to $6,100 of unused exemptions to savings accounts, vacation timeshares, and other nonexempt property. So, even if Samuel does not own a home, he can protect his $6,100 savings account.<\/li>\r\n<\/ul>\r\n<p>Other exemptions include all business partnership property, tools of the trade, and 75 percent of current but unpaid wages.<\/p>\r\n<h3>Informal Exemptions<\/h3>\r\n<p>Bankruptcy exemptions are not necessarily clear cut. Creditors or trustees may object to certain exemptions. Additionally, a little-known bankruptcy loophole called the best interests of creditors rules sometimes applies. Here&#8217;s an example:<\/p>\r\n<p>Assume General Ross has an RV in addition to his personal vehicle. The RV, which South Carolina&#8217;s formal exemptions do not cover, is worth about $1,000. It also needs about $500 in various repairs. Additionally, the trustee budgets $500 for seizing, storing, and marketing the RV.<\/p>\r\n<p>The law may prohibit the trustee from seizing General Ross&#8217; RV. Most likely, seizing it would not be in the best financial interests of the creditors, who do not stand to gain much or anything from it.<\/p>\r\n<h2>Connect with an Experienced Lawyer<\/h2>\r\n<p>The sooner you reach out to an <a href=\"https:\/\/lawyers.findlaw.com\/bankruptcy-law\/south-carolina\/?fli=dcta\" target=\"_blank\" rel=\"noopener\">experienced South Carolina bankruptcy lawyer<\/a>, the sooner you can have the fresh start the Bankruptcy Code guarantees.<\/p>\r\n<p><i><b>Note:<\/b> State laws are always subject to change through the passage of new legislation, rulings in the higher courts (including federal decisions), ballot initiatives, and other means. While we strive to provide the most current information available, please consult an attorney or conduct your own legal research to verify the state law(s) you are researching.<\/i><\/p>\r\n\n<section class=\"fl-faq\">\n    <div\n            class=\"fl-accordion fl-faq-container fl-container\"\n            id=\"faq\"\n            data-testid=\"fl-accordion\"\n    >\n        <div class=\"fl-faq-heading-row fl-flex\">\n            <ul\n                    class=\"fl-faq-buttons fl-flex fl-flex-row fl-items-center fl-no-spacing\"\n                    aria-label=\"View all Frequently Asked Questions\"\n            >\n                <li class=\"fl-faq-buttons-item\">\n                    <button\n                            id=\"button-show-faq\"\n                            data-testid=\"button-show-faq\"\n                            class=\"fl-accordion-filter-button fl-accordion-filter-button-show\"\n                            type=\"button\"\n                            data-focus-other-button=\"true\"\n                            aria-current=\"true\"\n                            aria-disabled=\"true\"\n                            disabled=\"\"\n                    >\n                        Show All\n                    <\/button>\n                <\/li>\n                <li><span aria-hidden=\"true\">|<\/span><\/li>\n                <li class=\"fl-faq-buttons-item\">\n                    <button\n                            id=\"button-hide-faq\"\n                            data-testid=\"button-hide-faq\"\n                            class=\"fl-accordion-filter-button fl-accordion-filter-button-hide\"\n                            type=\"button\"\n                            data-focus-other-button=\"true\"\n                            aria-current=\"true\"\n                            aria-disabled=\"true\"\n                            disabled=\"\"\n                    >\n                        Hide All\n                    <\/button>\n                <\/li>\n            <\/ul>\n        <\/div>\n        <div class=\"fl-faq-questions\">\n            <h3\n                    class=\"fl-faq-title fl-no-margin\"\n                    data-testid=\"fl-faq-title\"\n            >\n                Frequently Asked Questions About South Carolina Bankruptcy\n            <\/h3>\n                            <div\n                        class=\"fl-accordion-item\"\n                        id=\"section-1-faq\"\n                        aria-labelledby=\"button-1-faq\"\n                        data-testid=\"fl-accordion-item\"\n                >\n                    <h4\n                            class=\"fl-accordion-header fl-flex fl-items-center fl-justify-between fl-no-margin\"\n                            data-testid=\"fl-faq-question-header-1\"\n                    >\n                        <button\n                                id=\"button-1-faq\"\n                                aria-expanded=\"true\"\n                                aria-controls=\"content-1-faq\"\n                                class=\"fl-accordion-button fl-accordion-button-h4 fl-flex fl-flex-auto fl-justify-between is-opened fl-text-underline\"\n                                type=\"button\"\n                        >\n                            How do I start bankruptcy in South Carolina?\n                            <span aria-hidden=\"true\">\n                                <i\n                                        class=\"fa fa-angle-down small\"\n                                        aria-hidden=\"true\"\n                                ><\/i>\n                            <\/span>\n                        <\/button>\n                    <\/h4>\n                    <div\n                            class=\"fl-accordion-content active\"\n                            data-testid=\"fl-faq-question-content-1\"\n                            id=\"content-1-faq\"\n                            role=\"region\"\n                            aria-labelledby=\"button-1-faq\"\n                    >\n                        <p>Since money is usually tight in these situations, DIY (Do-It-Yourself) bankruptcies are rather popular in South Carolina.&nbsp;<a href=\"https:\/\/www.uslegalforms.com\/search\/?state=sc&amp;query=bankruptcy&amp;field=anywhere\" title=\"Bankruptcy Forms\" target=\"_blank\" rel=\"noopener\">The initial forms are available here<\/a>. In many cases, a DIY bankruptcy is a bad idea. The forms are extremely complex. Furthermore, if there is a motion for turnover or objection to discharge, DIY filers are on their own in court.\n<\/p>\n<p>A BPP (Bankruptcy Petition Preparer) bankruptcy is a little better. BPPs fill out forms for debtors. But that&#8217;s all they can do. They cannot tell you how to fill them out. They also cannot represent you in court.<\/p>\n<p>A lawyer can address all these deficiencies. Furthermore, attorneys do much more than fill out forms and stand up for you in court. Only a bankruptcy lawyer can give you solid legal advice about your bankruptcy and non-bankruptcy options. Furthermore, as mentioned, a lawyer is also a good debt negotiator.<\/p>\n\n                    <\/div>\n                <\/div>\n                            <div\n                        class=\"fl-accordion-item\"\n                        id=\"section-2-faq\"\n                        aria-labelledby=\"button-2-faq\"\n                        data-testid=\"fl-accordion-item\"\n                >\n                    <h4\n                            class=\"fl-accordion-header fl-flex fl-items-center fl-justify-between fl-no-margin\"\n                            data-testid=\"fl-faq-question-header-2\"\n                    >\n                        <button\n                                id=\"button-2-faq\"\n                                aria-expanded=\"true\"\n                                aria-controls=\"content-2-faq\"\n                                class=\"fl-accordion-button fl-accordion-button-h4 fl-flex fl-flex-auto fl-justify-between is-opened fl-text-underline\"\n                                type=\"button\"\n                        >\n                            How much does bankruptcy cost in South Carolina?\n                            <span aria-hidden=\"true\">\n                                <i\n                                        class=\"fa fa-angle-down small\"\n                                        aria-hidden=\"true\"\n                                ><\/i>\n                            <\/span>\n                        <\/button>\n                    <\/h4>\n                    <div\n                            class=\"fl-accordion-content active\"\n                            data-testid=\"fl-faq-question-content-2\"\n                            id=\"content-2-faq\"\n                            role=\"region\"\n                            aria-labelledby=\"button-2-faq\"\n                    >\n                        <p>Filing fees and professional fees vary in different locations and by type of bankruptcy. The filing fees, which are usually about $350, are sometimes payable in installments. Judges also grant fee waivers in a few cases. As for a South Carolina bankruptcy lawyer&#8217;s professional fees, payment plans, both pre- and post-petition, are usually available. Sliding scales are also available.<\/p>\n\n                    <\/div>\n                <\/div>\n                            <div\n                        class=\"fl-accordion-item\"\n                        id=\"section-3-faq\"\n                        aria-labelledby=\"button-3-faq\"\n                        data-testid=\"fl-accordion-item\"\n                >\n                    <h4\n                            class=\"fl-accordion-header fl-flex fl-items-center fl-justify-between fl-no-margin\"\n                            data-testid=\"fl-faq-question-header-3\"\n                    >\n                        <button\n                                id=\"button-3-faq\"\n                                aria-expanded=\"true\"\n                                aria-controls=\"content-3-faq\"\n                                class=\"fl-accordion-button fl-accordion-button-h4 fl-flex fl-flex-auto fl-justify-between is-opened fl-text-underline\"\n                                type=\"button\"\n                        >\n                            How do I declare bankruptcy in SC?\n                            <span aria-hidden=\"true\">\n                                <i\n                                        class=\"fa fa-angle-down small\"\n                                        aria-hidden=\"true\"\n                                ><\/i>\n                            <\/span>\n                        <\/button>\n                    <\/h4>\n                    <div\n                            class=\"fl-accordion-content active\"\n                            data-testid=\"fl-faq-question-content-3\"\n                            id=\"content-3-faq\"\n                            role=\"region\"\n                            aria-labelledby=\"button-3-faq\"\n                    >\n                        <p>Debtors must file a petition and schedules. Furthermore, debtors must cooperate with the trustee in all areas. This cooperation usually means attending meetings and court hearings as needed.<\/p>\n\n                    <\/div>\n                <\/div>\n                            <div\n                        class=\"fl-accordion-item\"\n                        id=\"section-4-faq\"\n                        aria-labelledby=\"button-4-faq\"\n                        data-testid=\"fl-accordion-item\"\n                >\n                    <h4\n                            class=\"fl-accordion-header fl-flex fl-items-center fl-justify-between fl-no-margin\"\n                            data-testid=\"fl-faq-question-header-4\"\n                    >\n                        <button\n                                id=\"button-4-faq\"\n                                aria-expanded=\"true\"\n                                aria-controls=\"content-4-faq\"\n                                class=\"fl-accordion-button fl-accordion-button-h4 fl-flex fl-flex-auto fl-justify-between is-opened fl-text-underline\"\n                                type=\"button\"\n                        >\n                            What do you lose if you declare bankruptcy?\n                            <span aria-hidden=\"true\">\n                                <i\n                                        class=\"fa fa-angle-down small\"\n                                        aria-hidden=\"true\"\n                                ><\/i>\n                            <\/span>\n                        <\/button>\n                    <\/h4>\n                    <div\n                            class=\"fl-accordion-content active\"\n                            data-testid=\"fl-faq-question-content-4\"\n                            id=\"content-4-faq\"\n                            role=\"region\"\n                            aria-labelledby=\"button-4-faq\"\n                    >\n                        <p>Most people lose nothing when they declare bankruptcy in South Carolina. The state has very generous property exemptions. Some obscure loopholes, like the best interests of creditors rule, might protect even more of your property.<\/p>\n\n                    <\/div>\n                <\/div>\n                            <div\n                        class=\"fl-accordion-item\"\n                        id=\"section-5-faq\"\n                        aria-labelledby=\"button-5-faq\"\n                        data-testid=\"fl-accordion-item\"\n                >\n                    <h4\n                            class=\"fl-accordion-header fl-flex fl-items-center fl-justify-between fl-no-margin\"\n                            data-testid=\"fl-faq-question-header-5\"\n                    >\n                        <button\n                                id=\"button-5-faq\"\n                                aria-expanded=\"true\"\n                                aria-controls=\"content-5-faq\"\n                                class=\"fl-accordion-button fl-accordion-button-h4 fl-flex fl-flex-auto fl-justify-between is-opened fl-text-underline\"\n                                type=\"button\"\n                        >\n                            Is it better to file a Chapter 7 or 13?\n                            <span aria-hidden=\"true\">\n                                <i\n                                        class=\"fa fa-angle-down small\"\n                                        aria-hidden=\"true\"\n                                ><\/i>\n                            <\/span>\n                        <\/button>\n                    <\/h4>\n                    <div\n                            class=\"fl-accordion-content active\"\n                            data-testid=\"fl-faq-question-content-5\"\n                            id=\"content-5-faq\"\n                            role=\"region\"\n                            aria-labelledby=\"button-5-faq\"\n                    >\n                        <p>Since debtors repay many of their obligations in a Chapter 13 bankruptcy, this type of bankruptcy does not stay on your credit report for as long and looks a little better to some creditors. However, Chapter 7&#8217;s impact on a credit score is&nbsp;<a href=\"https:\/\/www.marketwatch.com\/story\/7-common-myths-about-how-bankruptcy-affects-credit-2018-03-16\" title=\"Credit Score and Bankruptcy\" target=\"_blank\" rel=\"noopener\">not nearly as bad<\/a>&nbsp;as some people think it is.<\/p>\n\n                    <\/div>\n                <\/div>\n                            <div\n                        class=\"fl-accordion-item\"\n                        id=\"section-6-faq\"\n                        aria-labelledby=\"button-6-faq\"\n                        data-testid=\"fl-accordion-item\"\n                >\n                    <h4\n                            class=\"fl-accordion-header fl-flex fl-items-center fl-justify-between fl-no-margin\"\n                            data-testid=\"fl-faq-question-header-6\"\n                    >\n                        <button\n                                id=\"button-6-faq\"\n                                aria-expanded=\"true\"\n                                aria-controls=\"content-6-faq\"\n                                class=\"fl-accordion-button fl-accordion-button-h4 fl-flex fl-flex-auto fl-justify-between is-opened fl-text-underline\"\n                                type=\"button\"\n                        >\n                            How many years do you have to wait to file a subsequent Chapter 7 bankruptcy?\n                            <span aria-hidden=\"true\">\n                                <i\n                                        class=\"fa fa-angle-down small\"\n                                        aria-hidden=\"true\"\n                                ><\/i>\n                            <\/span>\n                        <\/button>\n                    <\/h4>\n                    <div\n                            class=\"fl-accordion-content active\"\n                            data-testid=\"fl-faq-question-content-6\"\n                            id=\"content-6-faq\"\n                            role=\"region\"\n                            aria-labelledby=\"button-6-faq\"\n                    >\n                        <p>Job loss and other financial storms usually prompt people to file Chapter 7. These storms often strike more than once. Depending on the exact circumstances, the waiting period for filing a subsequent Chapter 7 is usually six or eight years.<\/p>\n\n                    <\/div>\n                <\/div>\n                            <div\n                        class=\"fl-accordion-item\"\n                        id=\"section-7-faq\"\n                        aria-labelledby=\"button-7-faq\"\n                        data-testid=\"fl-accordion-item\"\n                >\n                    <h4\n                            class=\"fl-accordion-header fl-flex fl-items-center fl-justify-between fl-no-margin\"\n                            data-testid=\"fl-faq-question-header-7\"\n                    >\n                        <button\n                                id=\"button-7-faq\"\n                                aria-expanded=\"true\"\n                                aria-controls=\"content-7-faq\"\n                                class=\"fl-accordion-button fl-accordion-button-h4 fl-flex fl-flex-auto fl-justify-between is-opened fl-text-underline\"\n                                type=\"button\"\n                        >\n                            Can you back out of Chapter 13?\n                            <span aria-hidden=\"true\">\n                                <i\n                                        class=\"fa fa-angle-down small\"\n                                        aria-hidden=\"true\"\n                                ><\/i>\n                            <\/span>\n                        <\/button>\n                    <\/h4>\n                    <div\n                            class=\"fl-accordion-content active\"\n                            data-testid=\"fl-faq-question-content-7\"\n                            id=\"content-7-faq\"\n                            role=\"region\"\n                            aria-labelledby=\"button-7-faq\"\n                    >\n                        <p>Yes, in most cases. Very few bankruptcies are involuntary matters. Almost all of them are voluntary petitions. So, you may withdraw your petition at any time. Debtors also can convert from Chapter 13 to Chapter 7, and vice versa, at almost any time.<\/p>\n\n                    <\/div>\n                <\/div>\n                    <\/div>\n    <\/div>\n<\/section>\n\n<div class=\"was-this-helpful\">\n    <div\n            class=\"was-this-helpful__question-container\"\n            aria-labelledby=\"was-this-helpful__question\"\n            role=\"group\"\n    >\n        <span\n                id=\"was-this-helpful__question\"\n                class=\"was-this-helpful__question fl-text-lg-bold\"\n        >Was this helpful?<\/span>\n        <button\n                class=\"was-this-helpful__button fl-text-sm\"\n                aria-label=\"Yes\"\n                value=\"yes\"\n        >\n            <span class=\"was-this-helpful__button-text fl-text-bold\">Yes<\/span>\n            <i class=\"was-this-helpful__button-icon\">\n                <svg width=\"22\" height=\"22\" viewBox=\"0 0 22 22\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n                    <g id=\"thumbs-up\" clip-path=\"url(#clip0_604_3418)\">\n                        <path id=\"Vector\"\n                              d=\"M6 21H3C2.46957 21 1.96086 20.7893 1.58579 20.4142C1.21071 20.0391 1 19.5304 1 19V12C1 11.4696 1.21071 10.9609 1.58579 10.5858C1.96086 10.2107 2.46957 10 3 10H6M13 8V4C13 3.20435 12.6839 2.44129 12.1213 1.87868C11.5587 1.31607 10.7956 1 10 1L6 10V21H17.28C17.7623 21.0055 18.2304 20.8364 18.5979 20.524C18.9654 20.2116 19.2077 19.7769 19.28 19.3L20.66 10.3C20.7035 10.0134 20.6842 9.72068 20.6033 9.44225C20.5225 9.16382 20.3821 8.90629 20.1919 8.68751C20.0016 8.46873 19.7661 8.29393 19.5016 8.17522C19.2371 8.0565 18.9499 7.99672 18.66 8H13Z\"\n                              stroke=\"#666666\" stroke-width=\"2\" stroke-linecap=\"round\"\n                              stroke-linejoin=\"round\"><\/path>\n                    <\/g>\n                    <defs>\n                        <clipPath id=\"clip0_604_3418\">\n                            <rect width=\"22\" height=\"22\" fill=\"white\"><\/rect>\n                        <\/clipPath>\n                    <\/defs>\n                <\/svg>\n            <\/i>\n        <\/button>\n        <button\n                class=\"was-this-helpful__button fl-text-sm\"\n                aria-label=\"No\"\n                value=\"no\"\n        >\n            <span class=\"was-this-helpful__button-text fl-text-bold\">No<\/span>\n            <i class=\"was-this-helpful__button-icon\">\n                <svg width=\"22\" height=\"22\" viewBox=\"0 0 22 22\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n                    <g id=\"thumbs-down\" clip-path=\"url(#clip0_604_3423)\">\n                        <path id=\"Vector\"\n                              d=\"M16 0.999995H18.67C19.236 0.989986 19.7859 1.18813 20.2154 1.55681C20.645 1.9255 20.9242 2.43905 21 3V10C20.9242 10.5609 20.645 11.0745 20.2154 11.4432C19.7859 11.8119 19.236 12.01 18.67 12H16M9.00003 14V18C9.00003 18.7956 9.3161 19.5587 9.87871 20.1213C10.4413 20.6839 11.2044 21 12 21L16 12V0.999995H4.72003C4.2377 0.994543 3.76965 1.16359 3.40212 1.47599C3.0346 1.78839 2.79235 2.22309 2.72003 2.7L1.34003 11.7C1.29652 11.9866 1.31586 12.2793 1.39669 12.5577C1.47753 12.8362 1.61793 13.0937 1.80817 13.3125C1.99842 13.5313 2.23395 13.7061 2.49846 13.8248C2.76297 13.9435 3.05012 14.0033 3.34003 14H9.00003Z\"\n                              stroke=\"#666666\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\n                    <\/g>\n                    <defs>\n                        <clipPath id=\"clip0_604_3423\">\n                            <rect width=\"22\" height=\"22\" fill=\"white\"\/>\n                        <\/clipPath>\n                    <\/defs>\n                <\/svg>\n            <\/i>\n        <\/button>\n    <\/div>\n    <span class=\"was-this-helpful__taken-action fl-text-sm-bold\"><\/span>\n    <div class=\"was-this-helpful__feedback-container\">\n        <div class=\"was-this-helpful__choose-option-message\" role=\"status\">\n            <p class=\"was-this-helpful__choose-option-message-text\"><\/p>\n        <\/div>\n        <form class=\"was-this-helpful__feedback-form\">\n            <div class=\"was-this-helpful__feedback was-this-helpful__feedback--positive\">\n                <fieldset>\n                    <legend class=\"was-this-helpful__feedback-form-title\" tabindex=\"0\">Why was this helpful?<\/legend>\n                    <div class=\"fl-radio-button-field fl-flex was-this-helpful__feedback-form-title\">\n                        <input\n                                id=\"was-this-helpful__radio-button--understandable\"\n                                class=\"fl-radio-button-field-input\"\n                                type=\"radio\"\n                                name=\"positive-feedback\"\n                                value=\"Easy to understand\"\n                        >\n                        <label\n                                class=\"fl-radio-button-field-label fl-text-sm was-this-helpful__radio-label\"\n                                for=\"was-this-helpful__radio-button--understandable\"\n                        >Easy to understand<\/label>\n                    <\/div>\n                    <div class=\"fl-radio-button-field fl-flex was-this-helpful__feedback-form-title\">\n                        <input\n                                id=\"was-this-helpful__radio-button--solved-problem\"\n                                class=\"fl-radio-button-field-input\"\n                                type=\"radio\"\n                                name=\"positive-feedback\"\n                                value=\"Solved my problem\"\n                        >\n                        <label\n                                class=\"fl-radio-button-field-label fl-text-sm was-this-helpful__radio-label\"\n                                for=\"was-this-helpful__radio-button--solved-problem\"\n                        >Solved my problem<\/label>\n                    <\/div>\n                    <div class=\"fl-radio-button-field fl-flex was-this-helpful__feedback-form-title\">\n                        <input\n                                id=\"was-this-helpful__radio-button--other\"\n                                class=\"fl-radio-button-field-input\"\n                                type=\"radio\"\n                                name=\"positive-feedback\"\n                                value=\"Other\"\n                        >\n                        <label\n                                class=\"fl-radio-button-field-label fl-text-sm was-this-helpful__radio-label\"\n                                for=\"was-this-helpful__radio-button--other\"\n                        >Other<\/label>\n                    <\/div>\n                <\/fieldset>\n            <\/div>\n            <div class=\"was-this-helpful__feedback was-this-helpful__feedback--negative\">\n                <fieldset>\n                    <legend class=\"was-this-helpful__feedback-form-title\" tabindex=\"0\">Why was this not helpful?<\/legend>\n                    <div class=\"was-this-helpful__choose-option-message\" role=\"status\">\n                        <p class=\"was-this-helpful__choose-option-message-text\"><\/p>\n                    <\/div>\n                    <div class=\"fl-radio-button-field fl-flex was-this-helpful__feedback-form-title\">\n                        <input\n                                id=\"was-this-helpful__radio-button--missing-info\"\n                                class=\"fl-radio-button-field-input\"\n                                type=\"radio\"\n                                name=\"negative-feedback\"\n                                value=\"Missing Information\"\n                        >\n                        <label\n                                class=\"fl-radio-button-field-label fl-text-sm was-this-helpful__radio-label\"\n                                for=\"was-this-helpful__radio-button--missing-info\"\n                        >Missing the information I need<\/label>\n                    <\/div>\n                    <div class=\"fl-radio-button-field fl-flex was-this-helpful__feedback-form-title\">\n                        <input\n                                id=\"was-this-helpful__radio-button--complicated\"\n                                class=\"fl-radio-button-field-input\"\n                                type=\"radio\"\n                                name=\"negative-feedback\"\n                                value=\"Too complicated\"\n                        >\n                        <label\n                                class=\"fl-radio-button-field-label fl-text-sm was-this-helpful__radio-label\"\n                                for=\"was-this-helpful__radio-button--complicated\"\n                        >Too complicated \/ too many steps<\/label>\n                    <\/div>\n                    <div class=\"fl-radio-button-field fl-flex was-this-helpful__feedback-form-title\">\n                        <input\n                                id=\"was-this-helpful__radio-button--dated\"\n                                class=\"fl-radio-button-field-input\"\n                                type=\"radio\"\n                                name=\"negative-feedback\"\n                                value=\"Out of date\"\n                        >\n                        <label\n                                class=\"fl-radio-button-field-label fl-text-sm was-this-helpful__radio-label\"\n                                for=\"was-this-helpful__radio-button--dated\"\n                        >Out of date<\/label>\n                    <\/div>\n                    <div class=\"fl-radio-button-field fl-flex was-this-helpful__feedback-form-title\">\n                        <input\n                                id=\"was-this-helpful__radio-button--negative-other\"\n                                class=\"fl-radio-button-field-input\"\n                                type=\"radio\"\n                                name=\"negative-feedback\"\n                                value=\"Other\"\n                        >\n                        <label\n                                class=\"fl-radio-button-field-label fl-text-sm was-this-helpful__radio-label\"\n                                for=\"was-this-helpful__radio-button--negative-other\"\n                        >Other<\/label>\n                    <\/div>\n                <\/fieldset>\n            <\/div>\n            <div class=\"was-this-helpful__form-buttons-container\">\n                <button\n                    class=\"was-this-helpful__feedback-button was-this-helpful__feedback-button--positive at-feedback-submit fl-button secondary\"\n                    type=\"submit\"\n                >\n                    <span class=\"fl-button-content\">Submit<\/span>\n                    <i\n                        class=\"fa fa-angle-right medium\"\n                        aria-hidden=\"true\"\n                    ><\/i>\n                <\/button>\n                <button\n                    class=\"was-this-helpful__feedback-button was-this-helpful__feedback-button--cancel fl-button primary disabled\"\n                    type=\"reset\"\n                >\n                    <span class=\"fl-button-content\">Cancel<\/span>\n                    <i\n                        class=\"fa fa-times-circle medium\"\n                        aria-hidden=\"true\"\n                    ><\/i>\n                <\/button>\n            <\/div>\n        <\/form>\n    <\/div>\n    <div class=\"was-this-helpful__thank-you-message\" role=\"status\">\n        <i class=\"was-this-helpful__thank-you-message-icon fa fa-check\"><\/i>\n        <p class=\"was-this-helpful__thank-you-message-text\" aria-live=\"polite\"><\/p>\n    <\/div>\n<\/div>\n\n\n    <\/div>\n    \n    <div class=\"fl-section-sidebar\">\n        \n                        \n\n<div class=\"generalCardContainer\">\n            \n<div\n    class=\"fl-image-card fl-image-card--no-max-width fl-image-card--no-min-height fl-card-with-children fl-latl-card fl-image-card-title-on-image fl-flex fl-flex-column\"\n>\n                    <span class=\"\"\n        >\n\n            <div class=\"fl-image-card-image-wrapper fl-image-card-image-wrapper-default\">\n                <img decoding=\"async\" loading=\"lazy\"\n                     src=\"https://www.findlaw.com/static/c/images\/images\/w_1200,c_limit,dpr_auto\/f_auto,q_auto:eco\/v1747061756\/ability-law\/wp-prod\/content-original-images-BankruptcyCourt\/content-original-images-BankruptcyCourt.jpg?_i=AA\"\n                     alt=\"\"\n                ><\/img>\n                                                    <div class=\"fl-image-card-title\">\n                        <i class=\"fa fa-angle-right small fl-mr5\" aria-hidden=\"true\"><\/i>\n                        <h3\n                            class=\"fl-no-margin fl-h3-landing\"\n                            data-testid=\"fl-image-card-title\"\n                        >\n                            <span class=\"fl-image-card-title-link\">South Carolina Bankruptcy Court<\/span>\n                        <\/h3>\n                    <\/div>\n                            <\/div>\n                <\/span>\n\n        <div class=\"fl-image-card-content fl-flex-basis-100\">\n                    <h2>Where To File<\/h2>\n<p>South Carolina&#8217;s bankruptcy courts are located in&nbsp;<a href=\"https:\/\/www.scb.uscourts.gov\/content\/charleston\" target=\"_blank\" rel=\"noopener\">Charleston<\/a>,&nbsp;<a href=\"https:\/\/www.scb.uscourts.gov\/court-info\/court-locations\/newark\" target=\"_blank\" rel=\"noopener\">Columbia<\/a>, and&nbsp;<a href=\"https:\/\/www.scb.uscourts.gov\/court-info\/court-locations\/trenton\" target=\"_blank\" rel=\"noopener\">Spartanburg<\/a>. <\/p>\n<p>DIY and BPP filers must conduct most filing and payment business at these locations during business hours. Lawyers can use the state&#8217;s ECF (Electronic Case Filing) system.<\/p>\n\n            <\/div>\n            <div\n            class=\"fl-latl-card-footer fl-flex fl-items-center fl-justify-center\"\n        >\n                    <a class=\"fl-latl-card-footer-link fl-text-lg-medium fl-flex fl-items-center fl-justify-center\" href=\"https:\/\/secure.uslegalforms.com\/cgi-bin\/forms\/search.pl?query=bankruptcy&#038;state=sc\" target=\"_blank\" rel=\"noopener\">\n\n                <span>Bankruptcy Forms<\/span>\n                <i class=\"fa fa-angle-right medium\" aria-hidden=\"true\"><\/i>\n                    <\/a>\n\n        <\/div>\n    <\/div>\n    <\/div>\n\n    <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>A South Carolina bankruptcy can give you a fresh financial start and protect your assets from creditor seizure. Learn how bankruptcy works and what property you can keep when you file for bankruptcy in South Carolina.<\/p>\n","protected":false},"author":41135,"featured_media":0,"parent":286821,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"app\/Http\/Controllers\/Templates\/ArticleWithBreadcrumbsController.php","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_autodraft_ids":[],"_cloudinary_featured_overwrite":false,"_sb_is_suggestion_mode":false,"_sb_show_suggestion_boards":false,"_sb_show_comment_boards":false,"_sb_suggestion_history":"","_sb_update_block_changes":"","_is_real_time_mode":false,"_realtime_collaborators":"","footnotes":"","cf_checklist_status":[]},"categories":[2727],"tags":[],"state_laws_tags":[],"flmsa":[],"class_list":["post-286874","page","type-page","status-publish","hentry","category-bankruptcy"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/pages\/286874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/users\/41135"}],"replies":[{"embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/comments?post=286874"}],"version-history":[{"count":0,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/pages\/286874\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/pages\/286821"}],"wp:attachment":[{"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/media?parent=286874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/categories?post=286874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/tags?post=286874"},{"taxonomy":"state_laws_tags","embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/state_laws_tags?post=286874"},{"taxonomy":"flmsa","embeddable":true,"href":"https:\/\/www.findlaw.com\/law-api\/wp-json\/wp\/v2\/flmsa?post=286874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}