Are there any assets I can exempt in Chapter 13 Bankruptcy?

Yes, there are assets you can exempt in Chapter 13 Bankruptcy in South Carolina. Generally speaking, you are allowed to exempt certain types of property from being considered as part of your estate, which means that creditors cannot touch it. This includes but is not limited to your personal residence, motor vehicle, household goods and furnishings, retirement accounts, health and disability insurance, Social Security Income, and certain public benefits. However, it is important to note that there are limits on the amount you can exempt and that these laws are subject to change at any time. Additionally, some assets may not be eligible to be exempted at all. Therefore, it is important to speak with an attorney who is knowledgeable in bankruptcy law in the state of South Carolina to get a better idea of which assets you can and cannot exempt. It is also important to know that while some assets may be exempt, you will still be required to pay any delinquent payments owed on them through the bankruptcy proceedings. For example, if you have a car loan and owe a certain amount of money, you will still need to make payments on the car loan through the plan in order to keep it. Overall, Chapter 13 bankruptcy law in South Carolina allows for certain assets to be exempt, but it is important to consult an attorney who is knowledgeable in the field to determine the specific assets you can exempt.

Related FAQs

Are there any assets I can exempt in Chapter 13 Bankruptcy?

Related FAQs

Related Blog Posts