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Home and Car Exemption in North Carolina

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  • 04-15-2009, 09:22 PM
    fjw225
    Home and Car Exemption in North Carolina
    My question involves bankruptcy in the state of: North Carolina.

    I owe $8k in Bank of America Credit Card, $4,500 on HealthCare Credit Card and $2,500 in Hosptial Bills. Car will be paid off in four months.

    Value of car is around $5000.

    Credit Scores average at 725.

    Living off of $1,000 per month from Social Security Income and using IRA to pay mortgage and bills.

    $2000 went on HealthCare Credit Card about a month ago, this was not meant to be fraud, dental work had to be done.

    Am I looking at losing my car and home, if I file for Bankruptcy ?

    Any help would be appreciated.
  • 04-17-2009, 05:02 AM
    LawResearcherMissy
    Re: Home and Car Exemption in North Carolina
    North Carolina property exemptions are here.

    You appear to be allowed $10K in value for your homestead exemption and $1500 for your motor vehicle.

    You should really consult with a local attorney prior to taking any action.
  • 04-19-2009, 06:58 PM
    fjw225
    Re: Home and Car Exemption in North Carolina
    Quote:

    Quoting fjw225
    View Post
    My question involves bankruptcy in the state of: North Carolina.

    I owe $8k in Bank of America Credit Card, $4,500 on HealthCare Credit Card and $2,500 in Hosptial Bills. Car will be paid off in four months.

    Value of car is around $5000.

    Credit Scores average at 725.

    Living off of $1,000 per month from Social Security Income and using IRA to pay mortgage and bills.

    $2000 went on HealthCare Credit Card about a month ago, this was not meant to be fraud, dental work had to be done.

    Am I looking at losing my car and home, if I file for Bankruptcy ?

    Any help would be appreciated.

    SnakeCharmer ... thank you for your information.
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