North Carolina Bankruptcy Laws

Locate a North Carolina Bankruptcy Attorney

Are you North Carolina resident and thinking of filing bankruptcy? A North Carolina bankruptcy attorney will examine all of your options with you.

See, with the guidance of a North Carolina bankruptcy attorney, whether filing Chapter 7 or Chapter 13 bankruptcy is the right choice for you.

For a consultation with a local North Carolina bankruptcy attorney simply fill out the form on this page.

Bankruptcy Law and North Carolina Exemptions

In your first meeting with your North Carolina bankruptcy attorney you will go over all of the key differences from Chapter 7 and Chapter 13 bankruptcy.

During this appointment your North Carolina bankruptcy attorney will ask you many personal finance questions or provide you with a profile sheet to list certain financial details. Your listed answers will assist you and your attorney in deciding if filing Chapter 7 or Chapter 13 bankruptcy is the appropriate step for you.

Chapter 7 bankruptcy is regularly called liquidation as the bankruptcy trustee may opt to sell or auction non-exempted property (see State Exemptions list below).

Primarily, in most of Chapter 7 bankruptcy cases, the individual filing bankruptcy does not own non-exempt property, so this would not apply to the majority of filings. If you do not own much property or have many assets Chapter 7 bankruptcy may be the best choice, since you are allowed to discharge most unsecured debt.

Ahead of filing Chapter 7 bankruptcy please go over your situation with a North Carolina bankruptcy attorney to determine exactly how much property may be exempt from liquidation.

North Carolina State Exemptions

Federal bankruptcy exemptions not available in North Carolina.

Homestead

Up to $18,500 of real or personal property used as a residence.

Wages

60 days’ earnings if needed for family support.

Automobiles

One motor vehicle worth up to $3,500.

Personal Property

1. Up to $5,000 worth of any property, minus amount claimed under homestead exemption.
2. Up to $5,000 plus $1,000 of property for each of your dependents up to $4,000 worth of household furnishings, household goods, clothing, appliances, books, animals, crops or musical instruments.
3. Up to $2,000 worth of implements, professional books and trade tools.

Chapter 13 Bankruptcy is also called “reorganization”. Those filing Chapter 13 may own more property and by filing Chapter 13 may also keep most of their assets.

In Chapter 13 bankruptcy, the debtor prepares a proposal for a repayment plan for a term of 3 to 5 years, which must be approved by a bankruptcy court. This plan allows the person to pay back outstanding bills.

Speak With a North Carolina Bankruptcy Attorney Today

Have you ever thought of filing bankruptcy in North Carolina but have not because you did not know where to begin or felt the process was too much for you?

To address all concerns about bankruptcy laws, a North Carolina bankruptcy attorney will be able to walk you through the bankruptcy process in common sense terms. When you meet with a North Carolina bankruptcy attorney you will also be able to have many of your questions and concerns answered in the first visit.

Leave the hassle of finding a North Carolina bankruptcy attorney behind. Simply complete our bankruptcy questionnaire on this page and we will direct you to a North Carolina bankruptcy attorney in your area.

Note:This is not legal advice. All bankruptcy laws in any state need the consult of a bankruptcy attorney licensed in that state. Consult a local attorney if you are seeking legal advice. Some or all bankruptcy laws may have changed since this page was created.

North Carolina Bankruptcy Attorneys are located in the following areas:

1ST CHICAGO NAT PROC CORP, A M F GREENSBORO, A&T STATE UNIVERSITY, ADVANCE, ALBEMARLE, ALEXANDER, ALMOND, ANDREWS, ANGIER, APEX, ARARAT, ARDEN, ASH, ASHEVILLE, ATLANTIC, ATLANTIC BEACH, BADIN, BAHAMA, BAKERSVILLE, BALSAM, BALSAM GROVE, BANK OF AMERICA, BANNER ELK, BARNARDSVILLE, BAT CAVE, BEAUFORT, BEDFORD FAIR INDUSTRIES, BELEWS CREEK, BENSON, BETHANIA, BLACK MOUNTAIN, BOILING SPRINGS, BOLIVIA, BONLEE, BOONVILLE, BOSTIC, BOWMAN GRAY SCHOOL OF MED, BRASSTOWN, BREVARD, BROADWAY, BROWNS SUMMIT, BRYSON CITY, BUIES CREEK, BULLOCK, BUNN, BUNNLEVEL, BURNSVILLE, BUTNER, CALABASH, CAMERON, CAMERON BROWN, CANDLER, CANTON, CAROLEEN, CAROLINA BEACH, CAROLINA POWER AND LIGHT CO, CARPENTER BOTTOM, CARY, CASAR, CASHIERS, CASTALIA, CASTLE HAYNE, CATAWBA, CEDAR ISLAND, CEDAR MOUNTAIN, CHAPEL HILL, CHARLOTTE, CHEROKEE, CHIMNEY ROCK, CHINA GROVE, CLAREMONT, CLAYTON, CLEMMONS, CLEVELAND, CLIFFSIDE, CLYDE, COATS, COLFAX, COLUMBUS, CONCORD, CONNELLYS SPRINGS, CONOVER, COOLEEMEE, CORNELIUS, CREEDMOOR, CROSSNORE, CULBERSON, CULLOWHEE, CUMNOCK, DANA, DANBURY, DAVIS, DENTON, DILLSBORO, DOBSON, DREXEL, DUKE, DUKE MEDICAL CTR, DUNN, DURHAM, EARL, EAST BEND, EAST FLAT ROCK, EAST SPENCER, EDNEYVILLE, ELK PARK, ELKIN, ELLENBORO, EMERALD ISLE, ENKA, ERWIN, ETOWAH, FAIRVIEW, FAITH, FALLSTON, FLAT ROCK, FLETCHER, FONTANA DAM, FOREST CITY, FOUR OAKS, FRANKLIN, FRANKLINTON, FUQUAY VARINA, GARNER, GERMANTON, GERTON, GIBSONVILLE, GLEN ALPINE, GLENVILLE, GLENWOOD, GLOUCESTER, GOLD HILL, GRANITE QUARRY, GREEN MOUNTAIN, GREENSBORO, GROVER, HAMPTONVILLE, HANES/LEGGS, HARKERS ISLAND, HARRIS, HAYESVILLE, HAZELWOOD, HENDERSONVILLE, HENDERSONVILLE, HENDERSONVLLE, HENRIETTA, HICKORY, HIGH POINT, HIGHLANDS, HILDEBRAN, HOLLY SPRINGS, HORSE SHOE, HOT SPRINGS, HUNTERSVILLE, ICARD, INDIAN TRAIL, INTEGON CORP, JAMESTOWN, JONAS RIDGE, JONESVILLE, JULIAN, KENLY, KERNERSVILLE, KING, KINGS MOUNTAIN, KIPLING, KNIGHTDALE, KURE BEACH, LAKE JUNALUSKA, LAKE LURE, LAKE TOXAWAY, LANDIS, LATTIMORE, LAWNDALE, LAWSONVILLE, LEGGS PRODUCTS, LEICESTER, LELAND, LEMON SPRINGS, LEWISVILLE, LEXINGTON, LILLINGTON, LINVILLE, LINVILLE FALLS, LINVILLE FLS , LINWOOD, LITTLE SWITZERLAND, LOCUST, LONGWOOD, LOUISBURG, LOWGAP, LYNN, MAGGIE VALLEY, MAIDEN, MAMERS, MARBLE, MARION, MARS HILL, MARSHALL, MARSHALLBERG, MARSHVILLE, MATTHEWS, MC LEANSVILLE, MICAVILLE, MICRO, MIDLAND, MILL SPRING, MILLS RIVER, MINERAL SPGS, MISENHEIMER, MOCKSVILLE, MONROE, MONTEZUMA, MONTREAT, MOORESBORO, MOORESVILLE, MOREHEAD CITY, MORGANTON, MORRISVILLE, MOUNT AIRY, MOUNT ULLA, MOUNTAIN HOME, MURPHY, N C CENTRALIZED MAILING, N C DEPT OF MOTOR VEH, N C DEPT REVENUE, N C LIBRARY, NAPLES, NATIONAL INFO SYST SUPT CNTR, NATIONWIDE INS CO, NC STATE UNIV, NEBO, NEW LONDON, NEWELL, NEWLAND, NEWPORT, NEWTON, NORWOOD, OAK ISLAND, OAK RIDGE, OAKBORO, OCEAN ISLE BEACH, OLD FORT, OLIVIA, OTTO, OXFORD, PAW CREEK, PENLAND, PENROSE, PFAFFTOWN, PIEDMONT AVIATION, PILOT MOUNTAIN, PINE HALL, PINE LEVEL, PINEOLA, PINEVILLE, PINNACLE, PISGAH FOREST, PITTSBORO, PLEASANT GARDEN, PLUMTREE, POLKVILLE, PRINCESS HOUSE, PRINCETON, RALEIGH, RICHFIELD, RIDGECREST, ROBBINSVILLE, ROCKWELL, ROLESVILLE, ROSMAN, RURAL HALL, RUTHERFORD COLLEGE, RUTHERFRD COL, RUTHERFORDTON, SALISBURY, SALTER PATH, SALUDA, SANDY RIDGE, SANFORD, SAPPHIRE, SCALY MOUNTAIN, SEALEVEL, SEDALIA, SELMA, SHALLOTTE, SHELBY, SHERRILLS FORD, SILOAM, SKYLAND, SMITHFIELD, SMYRNA, SOUTHMONT, SOUTHPORT, SPENCER, SPINDALE, SPRING LAKE, SPRUCE PINE, STACY, STANFIELD, STATE ROAD, STEM, STOVALL, SUMMERFIELD, SUNSET BEACH, SUPPLY, SWANNANOA, SWANSBORO, SYLVA, TERRELL, THOMASVILLE, THURMOND, TOAST, TOBACCOVILLE, TOPTON, TRYON, TUCKASEGEE, TUXEDO, UNION MILLS, V A, VALDESE, WACHOVIA BANK, WACHOVIA BLDG VIM, WACHOVIA MASTER CHRG, WACO, WAKE FOREST, WALKERTOWN, WALLBURG, WALNUT COVE, WARNE, WAXHAW, WAYNESVILLE, WEAVERVILLE, WEBSTER, WELCOME, WENDELL, WESTFIELD, WHITSETT, WHITTIER, WILLISTON, WILLOW SPRING, WILM, WILMINGTON, WILSONS MILL, WINGATE, WINNABOW, WINSTON SALEM, WOODLEAF, WRIGHTSVILLE BEACH, YADKINVILLE, YOUNGSVILLE, ZEBULON, ZIRCONIA

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