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North Carolina Exemption Notes

OPT OUT STATUS:

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

Although the federal bankruptcy code provides a list of exemptions, these exemptions are not available in North Carolina. North Carolina law requires you to use the exemptions found in state law -- not the U.S. bankruptcy code.

KEY EXEMPTIONS:

Homestead
Motor Vehicle
Wildcard
Personal Property
See Also:
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Federal Non-Bankruptcy Exemptions

These exemptions are available if you are using State Exemptions. These are exemptions found in Federal Law but not under 11 U.S.C. (the Bankruptcy Code), but rather in other parts of federal law, involving tribal rights, civil service and military pensions, and social security benefits.

  • Homestead

  • Homestead [ZN] Indian lands or homestead sales or lease proceeds
  • Insurance — Life, Disability

  • Insurance — Life, Disability [ZN] Federal government employee death & disability benefits
  • Insurance — Life, Disability [ZN] Federal judges, U.S. court & judicial center directors, administrative assistants to U.S. Supreme Court Chief Justice
  • Insurance — Life, Disability [ZN] Federal war risk, hazard, death, or injury compensation, death & disability benefits
  • Insurance — Life, Disability [ZN] Lighthouse workers survivors' benefits
  • Insurance — Life, Disability [ZN] Longshoremen & harbor workers death & disability benefits
  • Insurance — Life, Disability [ZN] Military group life insurance
  • Insurance — Life, Disability [ZN] U.S. Military service survivors' benefits
  • Pensions & Retirement Savings

  • Pensions & Retirement Savings [ZN] Annuities paid to members of the Armed Services, based on retirement or retainer pay
  • Pensions & Retirement Savings [ZN] Benefits for surviving spouses of Lighthouse Service personnel
  • Pensions & Retirement Savings [ZN] Death and disability benefits paid pursuant to the Longshoremen’s and Harbor Workers’ Compensation Act
  • Pensions & Retirement Savings [ZN] Federal Civil Service employees
  • Pensions & Retirement Savings [ZN] Foreign Service Employees
  • Pensions & Retirement Savings [ZN] Military Medal of Honor roll pensions
  • Pensions & Retirement Savings [ZN] Railroad workers
  • Pensions & Retirement Savings [ZN] Social Security
  • Pensions & Retirement Savings [ZN] U.S. Veterans' benefits
  • Personal Property

  • Personal Property [ZN] Military deposits in savings accounts while on permanent duty outside the U.S.
  • Personal Property [ZN] Student loan proceeds.
  • Public Benefits

  • Public Benefits [ZN] Exempt benefits available under Supplemental Security insurance
  • Public Benefits [ZN] FEMA Benefits
  • Public Benefits [ZN] Railroad workers' unemployment insurance
  • Public Benefits [ZN] Veterans Benefits
  • Tools of Trade

  • Tools of Trade [ZN] Seamen's clothing
  • Wages

  • Wages [ZN] Minimum 75% of disposable weekly earnings or 30 times the federal hourly wage, whichever is more; bankruptcy judge may authorize more for low-income debtors. NOTE: Declared not a bankruptcy exemption by numerous Federal courts
  • Wages [ZN] Seaman's wages (while on a voyage) persuant to a written contract
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    Federal Bankruptcy Exemptions under 11 U.S.C. §522(d)

    Federal Bankruptcy Exemptions NOT Available in North Carolina

    North Carolina has opted out of the Federal Exemptions (see below)
  • Homestead

  • Homestead [US] Real property, including co-op or mobile home, or burial plot to $27,900; unused portion of homestead to $13,950 may be applied to any property
  • Tenancy by Entirety

  • Tenancy by Entirety [US] Tenancy by entirety is exempt only if debtor chooses State & Non-bankruptcy exemptions.
  • Insurance — Life, Disability

  • Insurance — Life, Disability [US] Disability, illness, or unemployment benefits
  • Insurance — Life, Disability [US] Life insurance payments from policy for person you depended on, needed for support
  • Insurance — Life, Disability [US] Life insurance policy loan value, in accured dividends or interest, to $14,875
  • Insurance — Life, Disability [US] Unamtured life insurance contract, except credit insurance policy
  • Pensions & Retirement Savings

  • Pensions & Retirement Savings [US] All types of retirement funds and accounts that tax-exempt under IRC section 401, 403, 408, 408A, 414, 457, or 501(a) ; IRAs & Roth IRAs limited to $1,512,350 (excluding rollover contributions); limitation can be overidden by judge.
  • Personal Property

  • Personal Property [US] Animals, crops, clothing, appliances, books, furnishings, household goods, musical instruments to $700 per item, $14,875 total
  • Personal Property [US] Health aids
  • Personal Property [US] Jewelry to $1,875
  • Personal Property [US] Lost earnings payments
  • Personal Property [US] Motor vehicle to $4,450
  • Personal Property [US] Personal injury recoveries to $27,900 (not to include pain & suffering or pecuniary loss)
  • Personal Property [US] Wrongful death recoveries for person you depended on
  • Public Benefits

  • Public Benefits [US] Crime victims' compensation
  • Public Benefits [US] Social Security
  • Public Benefits [US] Unemployment compensation
  • Public Benefits [US] Veteran's benefits
  • Tools of Trade

  • Tools of Trade [US] Implements, books, & tools of trade to $2,800
  • Wages

  • Wages [US] None
  • Wild Card

  • Wild Card [US] $1,475 of any property
  • Wild Card [US] Up to $13,950 of unused homestead exemption amount, for any property.
  • Miscellaneous

  • Miscellaneous [US] Alimony, child support needed for support
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