Are you considering filing for Chapter 7 or Chapter 13 bankruptcy in North Carolina? Although much of bankruptcy is governed by federal law, some bankruptcy-related information and law is specific to your state.
Below you’ll find North Carolina-specific information on filing for bankruptcy as well as articles on the various North Carolina bankruptcy exemptions. And for in-depth information on bankruptcy law and procedures, visit Nolo’s Bankruptcy Center.
Filing for Bankruptcy in North Carolina (NC)
In this complete guide to filing bankruptcy in North Carolina, you’ll learn about the differences between Chapters 7 and 13, the debts you can discharge, and the property you can keep using North Carolina’s exemption laws. It also explains how to qualify for bankruptcy chapters 7 and 13 in North Carolina, and includes checklists to help you navigate the process and organize bankruptcy documents, and links to a DIY bankruptcy quiz and other helpful resources.
The North Carolina Homestead Exemption
Learn how much home equity you can protect using the homestead exemption in a North Carolina bankruptcy and other requirements you must meet to keep a home in bankruptcy. All bankruptcy filers can keep a house if the homestead exemption protects all home equity. The Chapter 7 bankruptcy trustee will sell the home if the homestead exemption doesn't fully protect the home's equity. Chapter 13 filers can keep a home that isn't fully covered by the homestead exemption if they can afford to pay creditors the uncovered amount through the bankruptcy plan.
North Carolina Bankruptcy Exemptions
Learn how to protect your property in a North Carolina bankruptcy using bankruptcy exemptions.