What Exemptions Are Available in NC?
North Carolina recently expanded its statutory consumer bankruptcy exemptions to include $35,000 of homestead equity, $3,500 exemption toward the value of a motor vehicle, $5,000 exemption toward the value of personal household items and a $5,000 exemption towards other property commonly considered a “wildcard”. Typically, filing bankruptcy jointly for families doubles these deduction limits. There are a number of strategies available to maximize these exemptions. Dave Hillier can help ensure you receive the maximum exemptions available to you in the bankruptcy process.
This article is for information purposes only and is not to be considered or substituted as legal advice. The information in this article is based on North Carolina state laws in effect at the time of posting.