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  1. #1
    Join Date
    Apr 2009
    Posts
    3

    Default 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.

  2. #2
    Join Date
    Jan 2008
    Location
    Toledo, OH
    Posts
    16,307

    Default 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.

  3. #3
    Join Date
    Apr 2009
    Posts
    3

    Default 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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