• South Carolina had almost 10,000 bankruptcies in 2009.South Carolina state contour against blurred USA flag image by Stasys Eidiejus from Fotolia.com
  
  South Carolina was home to nearly 10,000 bankruptcies in 2009, with an additional 5,000 by September of 2010. In an environment where personal bankruptcies are on the rise, it is important to know how bankruptcy law in your state affects you. Waiting until you are ready to declare bankruptcy is too late to get the facts. Know the laws on bankruptcy in South Carolina to protect yourself. Remember that when going through bankruptcy you should always have a qualified attorney working on your side.
  
  

Exemptions

• Your debt collectors cannot take everything from you. Under South Carolina bankruptcy law, there are a number of items that are exempted from debtors' reach. Anything you own that is used for work can be kept, up to a value of $750 as of 2010. Any public benefits you receive, such as worker's compensation, unemployment insurance and social security benefits cannot be touched. A number of personal affects are exempted, including pets, jewelry, your car and burial plots up to a value of $5,000. Many forms of insurance lay beyond the grasp of collectors, including life, disability and accident insurance. Some exemptions have maximum allowable amounts to claim for exemption.
  
  

Debts Not Eliminated

• Unfortunately, bankruptcy does not eliminate all debts. Some debts that you will still be held liable for even after bankruptcy proceedings have ended include your most recent back taxes, fraudulent debts, child support, large luxury purchases over the amount of $550 up to 90 days before filing and alimony. Student loans are generally also not possible to eliminate by declaring either Chapter 7 or Chapter 13.
  
  

Debt Collection Practices

• South Carolina law restricts the practices that debt collectors may engage in, strictly prohibiting harassment. South Carolina law defines harassment as false implications of criminal wrongdoing and of being a lawyer or government agent. Debt collectors may not misrepresent either the presence of an attorney working on your case or the amount of your debt. Your creditors may not mislead you as to whether or not documents are legally binding or not.
  
  

Court Fees

• Those filing for bankruptcy will have to pay court fees, even if they are filing without a lawyer. Fees can be paid by cash, postal money orders, certified checks and credit cards. However, you cannot use your own credit cards or personal checks. Third parties, such as your attorney, may make payments for you in the form of a personal check or credit card. Fees vary depending on what chapter of bankruptcy you are filing.