What Property is Exempt from Creditors?
Most individuals, but not all, will be eligible for North Carolina’s exemptions. The exemptions are as follows: • $18,500.00 equity in a residence • $3,500.00 in a motor vehicle • $5,000.00 in household and personal items • $5,000.00 in other property depending upon the extent to which the residential exemption was used The amounts double when husband and wife file bankruptcy together. Additionally, other property may be exempt.
