South Carolina COLLECTION OF EXTENSIONS OF CREDIT BY EXTORTIONATE MEANS
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FAQ
Section 37-10-102 of the South Carolina Consumer Protection Code requires a creditor to ascertain and comply with the consumer's preference as to the legal counsel the consumer wants to hire to conduct the transaction.
A South Carolina debt lawsuit is initiated when the plaintiff (the person or company suing) files a Summons and Complaint in court and serves you with copies of the documents. The Summons is the official notification of the lawsuit, while the Complaint lists the specific claims against you.
The state of South Carolina is one of four states that does not permit wage garnishment. However, state law does permit creditors to pursue garnishment against your bank account, effectively freezing your assets.
Your wages CANNOT be garnished for collection of a debt or a judgment incurred here in South Carolina. Wage garnishment is prohibited in South Carolina EXCEPT in 3 cases: 1) If money is owed to the government (i.e., unpaid taxes, defaulted federal student loans)
In South Carolina, judgment exemptions generally apply to a person's personal property and their homestead. Legally, a creditor cannot seize any of these exempt assets if they have a value below the threshold set by the law, essentially making a debtor judgment proof despite the existence of some known assets.
South Carolina is one of the few states in the country where a creditor of a consumer debt can't garnish your wages. But for some other types of debts, you might still lose some of your paycheck to a garnishment.
(6) An extortionate extension of credit is any extension of credit with respect to which it is the understanding of the creditor and the debtor at the time it is made that delay in making repayment or failure to make repayment could result in the use of violence or other criminal means to cause harm to the person,
In South Carolina, the statute of limitations for most types of consumer and business debt is three years. Residents of South Carolina have several rights when it comes to paying off debt and it is important to understand each one to avoid being taken advantage of by debt collectors.