Bankruptcy Exemptions

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Bankruptcy Exemptions in Charlotte

Seek Professional Legal Help for Financial Trouble in Charlotte

Bankruptcy exemptions allow certain types of property and assets to be retained if you file for bankruptcy protection. In Chapter 7 bankruptcy, the exemptions allow you keep many types of property, and in fact, most people lose none of their possessions. In Chapter 13 bankruptcy, you also have specific protections, and you will pay a greatly reduced amount on overdue debt if your case is addressed correctly, and with the help of a true legal professional. If you are considering filing for bankruptcy, you should talk to a knowledgeable bankruptcy attorney in Charlotte who can help you understand bankruptcy laws, the benefits of bankruptcy, your eligibility, and who can provide you with general bankruptcy advice. Schwilm Law Firm, PLLC has been offering quality, personalized legal counsel for more than 15 years. We are committed to finding debt relief solutions people who are caught in any debt situation, no matter how difficult. Our legal team can help you file for bankruptcy protection and discharge your debt so you can get a fresh financial start, with your debts finally resolved.

Bankruptcy Exemptions: Your Assets Are Protected

The state of North Carolina offers its own exemptions to debtors rather than the federal bankruptcy exemption system. Fortunately, the state's system permits "doubling," which means married persons can each claim full exemptions with property that is jointly owned. The exemptions in the state include the following:

  • Burial plots
  • College savings accounts
  • Health aids
  • Home furnishings, appliances, clothing, etc.
  • Homesteads
  • Life insurance
  • Motor vehicles
  • Personal injury or crime victim compensation
  • Professional or trade assets (tools, books, equipment, etc.)
  • Retirement and pensions
  • Social Security benefits
  • Spousal support and child support
  • Unemployment benefits
  • Veterans benefits
  • Wages
  • Workers' compensation benefits

Choose a skilled Charlotte bankruptcy lawyer to assist you with your case.

It is extremely important that you consult with an experienced bankruptcy lawyer for information about bankruptcy and the exemptions you have a right to claim. Our firm has managed thousands of bankruptcy cases ranging from simple to very complex, so you can be confident that we have the experience and knowledge to help you resolve your financial troubles. We offer a free case evaluation, and we invite you to contact us today for more information.