Under Chapter 7, there are state exemptions in North Carolina that list what you are allowed to keep. For example, a single individual can keep a house with $18,500 worth of equity. In addition to the equity issue, if you want to keep a secured item, you must be current on your payments when you file. The lawyer will perform a complete property analysis regarding your assets.
Chaper 13 was designed to allow an individual to keep the property that they own. If you qualify, our office will determine the payment that is necessary to allow the retention of all of your assets.
