Wait a minute.. there is no prohibition against siezing property in SC if there's a judgment ! I lived in SC for 10 years, believe me, I know what the law says there. You have a certain amount of exemptions just like all other states. If you have any property over and above those exemptions, its fair game for a judgment creditor. You have rental properties - these can NOT be exempted with the homestead exemption. With that much debt, you could be facing a forced sale on one or more of those properties.
The SC Code on exemptions is here:
They cannot garnish wages in SC, but they can levy bank accounts.
You can refuse arbitration and I would suggest that you do so anyway. Even if they go forward anyway and grant an award against you, the award in and of itself is just so much T.P. They would have to go to court to have it turned into a judgment in order for them to do anything.
Arbitration refusal letter can be found here:
"Knowledge is Power - use it as you see fit !
I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice.