North Carolina Bankruptcy Laws

Federal filing fee for Chapter 7 bankruptcy. Fee waivers available for those below 150% of the poverty line.

Federal filing fee for Chapter 13 bankruptcy.

You must complete credit counseling from an approved agency within 180 days before filing and a debtor education course before discharge.

You must have been domiciled in NC for at least 730 days (2 years) before filing to use NC exemptions. Otherwise, you use exemptions from the state where you were domiciled for the majority of the 180 days preceding the 2-year period.

Protects up to $35,000 in equity in real or personal property used as a residence. Increases to $60,000 for surviving spouses age 65 or older.

Protects up to $3,500 in equity in one motor vehicle.

Up to $5,000 of unused homestead or burial exemption can be applied to any property (wildcard). An additional $500 wildcard is also available.

Protects up to $5,000 in household goods, furnishings, and wearing apparel, plus $1,000 per dependent. Does not apply to items purchased within 90 days before filing.

North Carolina requires debtors to use state exemptions. Debtors cannot opt for federal bankruptcy exemptions.