Call for a Free Consultation 704.750.1324
Overwhelmed with Debt? Bankruptcy May be the Answer. We Offer Solutions for Every Debt Related Need.

North Carolina Bankruptcy Laws

Make Informed Decisions for Your Financial Future

If you are currently suffering financially or are struggling with credit card debt, student loan debt, tax debt, or any other form of debt, there are few things that can make you feel more alone. Trying to make ends meet just to pay your medical bills or business operation costs can become a nightmare. Some individuals even avoid answering the phone or going out in public due to the fear of abusive collection agencies or creditor harassment.

At the Schwilm Law Firm, PLLC, our Charlotte bankruptcy attorney believes that the more you understand your current situation, the less intimidating it will be. You do not have to go through this legal and financial challenge alone! The more you know about the bankruptcy laws in North Carolina, the more you can begin to realize that you have options and protections available to you during this tough financial time.

Bankruptcy Code & Property Exemption in North Carolina

Each state has its own unique set of laws that protects a consumer debtor's assets and property. In North Carolina, this set of laws is known as property exemption. Although North Carolina's laws protect most of your property, you can speak with a Charlotte bankruptcy lawyer at our firm to determine how certain types of property and assets can be affected if you choose to file for bankruptcy.

North Carolina's property exemptions include the following, among other protections for personal property:

  • Homestead Exemption - up to $35,000 in real or personal property used as a residence
  • Wage Garnishment Law - up to 60 days' earnings if needed
  • Automobile / Truck Exemption - one motor vehicle worth up to $3,500
  • Tools of Trade Exemption - tools that you use to make a living, such as an automobile or industry-specific equipment
  • Wild Card Exemption - $5,000 less than any amount claimed for homestead exemption, burial exemption, or other personal property
  • Insurance, pensions, and retirement exemptions

The North Carolina Bankruptcy Code offers various options for consumer debtors and business owners to choose from when it comes to filing for bankruptcy. Both Chapter 7 bankruptcy and Chapter 13 bankruptcy can be used to provide debt relief to consumer debtors. Each chapter comes with its own unique set of protections and has distinct advantages and disadvantages.

Address Your Concerns with Help from a Charlotte Bankruptcy Lawyer

You may have many questions regarding bankruptcy, and we welcome any and all of your concerns. Filing for bankruptcy can be one of the most important legal decisions that you can face. We want to ensure that your ultimate decision is one that can give you a fresh start and hopeful future.

If you have any questions about bankruptcy or the new bankruptcy laws in North Carolina, do not hesitate to contact our firm today!

We're Fully Equipped to Help Your Debt Issues

  1. Over 20 Years of Legal Experience
  2. Outstanding Personal Service
  3. Lasting Relationships
  4. A Comprehensive & Experienced Approach
  • Please enter your name.
  • This isn't a valid email address.
    Please enter your email address.
  • This isn't a valid phone number.
    Please enter your phone number.
    You entered an invalid number.
  • Please select an option.
  • Please enter a message.

Our Client Testimonials

  • “She was willing to work with me and my crazy schedule between a full time job and children.”

    Maryjo M.

  • “They held my head through the whole process.”

    Former Client

  • “Lee and his staff was there for me every step of the way.”

    Diana McMillian

  • “I appreciate all their hard work on my case.”


  • “Mr. Schwilm was available when I needed him.”

    Former Client

  • “Great to work with!”

    Former Client

  • “They turned what could have been a very difficult process into a very simple one.”

    Angelique Alexander

  • “Very caring and professional.”

    Lynda Delena