North Carolina State Bankruptcy Exemptions
Laws That Keep Your Creditors' Hands Off Your Property
Exemptions are laws passed by every state that allow you to protect certain
types of your property from your creditors when you file bankruptcy-such as
your home, car, pensions and IRAs, motor vehicles, clothing, tools, and other
important property. North Carolina law provides a number of exemptions that
protect your property, and your attorney will be able to advise you on which
exemptions are best for you.
Homestead
$10,000 in real property or personal property used as a residence.
Wages
60 days earnings if needed to support family.
Automobiles
$1,500 in value of one motor vehicle.
Other Property
The debtor's aggregate interest in any property, not to exceed $3,500 less
any amount claimed under the homestead exemption; $3,500 in value for the
debtor plus $750 for each dependent of the debtor, not to exceed $3,000
total for dependents, in household furnishings, household goods, clothing,
appliances, books, animals, crops, or musical instruments; the debtor's
aggregate interest, not to exceed $750 in value, in any implements,
professional books, or tools of the trade.
Note: Exemptions may have changed since our last update.
» Read the complete North Carolina
bankruptcy exemptions here
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