How to Find Bankruptcy Records in South CarolinaWhen your debts are mounting up on top of one another and you are finding it hard to clear them in time, filing for bankruptcy might be the only viable solution available to you. Bankruptcy is a legal procedure that allows you to clear your debts legally, by either opting for a manageable repayment plan or by the liquidation of your assets. In the state of South Carolina, the most common form of bankruptcy that is filed every year is Chapter 7 bankruptcy or Chapter 13 bankruptcy.
However, before filing for any of these bankruptcy types, you are required to enter a program for credit counseling, 6 months before you file for the bankruptcy. There are certain eligibility criteria that you need to pass as well. To file for bankruptcy your annual income needs to be less than the median income of your state every year.
Bankruptcy filing process
Before, getting into the process of finding Bankruptcy Records in South Carolina, you must first learn about the bankruptcy filing process. The first and foremost thing that you need to do is hire an experienced bankruptcy lawyer and collate paperwork that pertains to details like your annual income, major properties or possessions owned by you, current living expenses and a list of what these costs are.
You need to take details from these papers and use the same to file the bankruptcy forms, which are then forwarded to the South Carolina District Bankruptcy Court, making your case ready to be heard.
A 341 hearing, whereby your creditors can no longer harangue you for money or lay claim to your properties and would be required by the court to resolve the issue and the debt under a legal court hearing, follows the aforementioned process. However, you need to remember that you would be under oath during this hearing, your creditors have the right to ask you questions regarding matters about the case, and you are required by law to answer the same correctly.
You also need to remember that Bankruptcy Records South Carolina, are public records and therefore can be viewed by the public at all times. These records also remain in your report for a long time and therefore should be carefully considered to be the only option available to you, before you file for bankruptcy.
You must declare as much property as possible to be exempt while filing for bankruptcy in the state of South Carolina. This prohibits creditors from laying claim to such property. The properties that can be exempted under the bankruptcy laws of South Carolina include burial plots, real property up to $50,000 that is being used as the primary residence by the debtor, household furnishings, motor vehicles until $1,200, appliances, cash, jewelry, clothing, or any other type of liquid assets, proceeds from personal injury or health aids.
Ways to find South Carolina Public Bankruptcy Records
As has been mentioned above, bankruptcy records in the state of South Carolina are public records and therefore, can be perused by the general public if the same has not been deemed confidential by the government for any reason whatsoever. To access South Carolina Bankruptcy Public Records, you need to approach the records department of the South Carolina District Bankruptcy Courts, who maintain and update the bankruptcy records of individuals belonging to the state.
There are three court locations at Columbia, Charleston, and Spartanburg. The address for the Columbia bankruptcy court is 1100 Laurel Street, Columbia, South Carolina 29201-2423 (J. Bratton Davis U.S. Bankruptcy Courthouse), the address for the Charleston bankruptcy court is 145 King Street, Room 225, Charleston, SC 29401 (King and Queen Building), and the address for the Spartanburg bankruptcy court is 201 Magnolia Street, Spartanburg, South Carolina 29306 (Donald S. Russell Federal Building & U.S. Courthouse). You can also contact third-party agents who furnish such records and take their help in finding out someone’s bankruptcy records in the state of South Carolina.