Chapter 7 Bankruptcy: What property do I have a right to keep?

An Asheville Bankruptcy Attorney can explain the North Carolina exemptions, how they work, and how they apply to the facts of your case.  Generally, over 90 percent of people who file a Chapter 7 case keep ALL of their property.  Here is a summary of the exemptions for Western North Carolina (please note: for a husband and wife filing together, all of these amounts double):


  • Up to $35,000 of real or personal property used as a residence.


  • 60 days’ earnings if needed for family support.


  • One motor vehicle worth up to $3,500.

Personal Property

  • Up to $5,000 worth of any property, minus amount claimed under homestead exemption.
  • Up to $5,000 plus $1,000 of property for each of your dependents up to $4,000 worth of household furnishings, household goods, clothing, appliances, books, animals, crops or musical instruments.
  • Up to $2,000 worth of implements, professional books and trade tools.


For those of you in Western North Carolina, I would be pleased to speak with you during a free initial consultation to explain how the exemptions would work for you.

*The information contained on this website is not intended and does not constitute the providing of any legal advice or any legal opinions or services to any user thereof. The information available on or through this web page is not intended and shall not be used as a substitute for the advice and consultation provided by an attorney.  Any factual examples used to illustrate concepts are hypothetical and do not depict actual events or real persons.