MenuIn bankruptcy, exemptions function as property allowance which enable a debtor to keep property through bankruptcy. Each state has its own exemption under state law, and there are also federal bankruptcy exemptions that are applicable in some situations. There are timing requirements not discussed in this answer, but residents of North Carolina will typically claim North Carolina Statutory exemptions. Several are very frequently claimed, including the homestead exemption, the motor vehicle exemption, the household property exemption, and the wild card exemption.
Household Property Exemption
North Carolina law allows debtors to exempt and keep through a bankruptcy a certain amount of household and personal property. Almost all debtors claiming North Carolina exemptions use this exemption to protect their clothing, personal effects, and household items such as televisions.
