Updated May 30, 2019
If you’re having trouble with your financial obligations, bankruptcy can help you get back on track. But first, you’ll have to prepare and file the bankruptcy case. In this article, you’ll learn where to find official bankruptcy forms that you’ll need to complete, as well as other information most filers need, such as South Carolina means testing figures, credit counseling providers, and the location of the South Carolina bankruptcy court. Finally, you’ll learn about protecting property in a South Carolina bankruptcy.
(For information about bankruptcy options, read What Is the Difference Between Chapter 7 and Chapter 13 Bankruptcy?)
Before the South Carolina Bankruptcy Court will forgive (discharge) your eligible debt, you’ll have to disclose your complete financial picture. You’ll enter detailed information about your income, expenses, property, debt, and property transactions on official bankruptcy forms.
You can get free fillable, downloadable versions on the U.S. Courts Form webpage. Then, you’ll file your paperwork with the South Carolina Bankruptcy Court along with proof that you’ve completed the counseling requirement and a filing fee or fee waiver.
Bankruptcy is a federal court process, but you’ll need some information specific to South Carolina, too. Here’s what you need to know to get started.
Two types of information you’ll need in South Carolina are found on the U.S. Trustee website: means testing figures (needed for qualification purposes) and approved credit counseling providers.
When you file bankruptcy in South Carolina, you’ll be able to protect (exempt) most, and maybe all, of your property as long as it appears on the list of exemptions allowed in South Carolina.
Any property that you can’t protect will be sold by the Chapter 7 bankruptcy trustee for the benefit of your creditors. By contrast, you won’t give up property in a Chapter 13 case. Instead, you’ll add the value of your nonexempt assets into your Chapter 13 plan and pay it out over three to five years.
You must be a South Carolina resident for at least 730 days before filing the bankruptcy petition. If you weren’t living in any one state during the two years before filing for bankruptcy, you'd use the exemptions of the state you lived in for most of the 180 days before the two-year period that immediately preceded your filing. Learn more about filing for bankruptcy after moving to a new state.
Here is a list of commonly-used South Carolina exemptions. The statute citations, unless otherwise noted, are to the South Carolina Code of Laws.
Additional exemptions exist. Also, the amounts listed for South Carolina exemptions were adjusted for inflation in 2016 and are expected to change again on July 1, 2018. To make sure you have the most recent figures, be sure to check for any updates on the website for the South Carolina Legislature.
On the South Carolina Bankruptcy Court website you’ll find the court’s local rules and instructions for filing your paperwork (click on “Filing Without an Attorney”).
Charleston |
Columbia |
Spartanburg |
U.S. Bankruptcy Court 145 King Street, Room 225 Charleston, SC 29401 |
U.S. Bankruptcy Courthouse 1100 Laurel Street Columbia, SC 29201-2423 |
U.S. Bankruptcy Court 201 Magnolia Street Spartanburg, SC 29306 |
The Columbia office is fully staffed and accepts over-the-counter filings. Contact the court clerk before attempting to file documents in another location.
You’ll need additional information when filing for bankruptcy. Also, it can be difficult to file without an attorney. If you plan to do so, consider purchasing a book like How to File Chapter 7 Bankruptcy by Attorney Cara O’Neill and Albin Renauer J.D.