North Carolina Bankruptcy Exemptions
The current list of North Carolina bankruptcy exemptions provide by law
As a codification of state law, the North Carolina bankruptcy exemptions were originally created by the state legislature. Over years of changes and amendments, values allowed for real and personal property remain fairly stable. Conservatives constantly complain values are acceptable, while those living in poverty cry foul. In the end, the politicization of standards of living seldom rise to priority levels for politicians on either side of the aisle.
In practice, the North Carolina exemption value may seem low by national standards
The statewide list applies in all counties, regardless of city population or lot value, regardless of prime or rural locations. All residents of Charlotte receive the same list as residents of small rural counties. This measure is an equalizer of sorts, in that all people are treated equally despite education, station or stripes. Compared to national averages, North Carolina provides significantly lower allotments for value and assets, as well as being significantly lower than the federal list provided by the Code.