Force me to sell home because I have Medical bills n south carolina?
1 attorney answer
I am sorry to hear about your medical condition. I hope "had" means you no longer have the cancer.
Each state has an exemption statute governing what property you can "exempt" or keep from your creditors. Our statute in SC has been amended recently and has a liberal homestead exemption. You can protect $51,450 in equity from from your creditors. Equity is the value of the home less any mortgages or other liens on the property. By way of example, if the home is worth 150k and you owe 100k, you have 50k equity. As a practical matter, you could have 60k to 70k equity and there would not be a problem because it costs money to sell a home, and the creditor would have to pay for those costs of sale. They know this, and would not likely attempt collection unless you had more than 60k to 70k of equity. Also, assuming you are married, and your spouse has an interest in the home, you could then double the exemption. (You each get $51,450).
While you may be "judgment proof," it would be wise for you to consult a bankruptcy attorney. It might make sense to file to discharge (wipe out) this debt so it's not hanging over your head. If there is any possibility of more medical bills, you should advise your attorney of this. This may lead him or her to do a Chapter 13 reorganization over a Chapter 7 "straight" bankruptcy.