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North Carolina Bankruptcy Exemptions

North Carolina Exemption Notes


Can I use the §522(d) Federal Bankruptcy Exemptions in North Carolina?

No. N.C. Gen. Stat. § 1C-1601(f).



Real or personal property, including co-op, used as residence to $35,000 (husband and wife may double) ($60,000 if 65 or older and spouse is deceased); up to $5,000 of unused portion of homestead may be applied to any property

Motor Vehicle

Motor vehicle to $3,500


$5,000 less any amount claimed for homestead or burial exemption, of any property
$500 of any personal property

Personal Property

Animals, crops, musical instruments, books, clothing, appliances, household goods & furnishings to $5,500 total; may add $1,000 per dependent, up to $4,000 total additional (all property must have been purchased at least 90 days before filing)
Implements, books, & tools of trade to $2,000

See Also:
Insurance, Pensions, Public Benefits, Tools of Trade, Wages & Miscellaneous

Since the federal exemptions are not available, North Carolina residents are stuck with their state law exemptions.

Vehicles exempted to $2,950 is less than the federal limit, and If not using the homestead for real estate, you can use up to $5,000 of the unused amount as a wildcard exemption for any other property. And you can protect $5,000 of other property - more if have dependents, and $2,000 in tools of trade.

The North Carolina homestead of only $35,000 may not protect much, but North Carolina recognizes tenancy by the entirety which could help some debtors who owe debts separate from their spouse and are filling separately.

North Carolina Exemptions Discussed On The Web

Both UpSolve and Nolo have discussions of North Carolina bankruptcy exemptions.



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