18Jan/100
North Carolina bankruptcy exemptions
North Carolina bankruptcy exemptions are limited to North Carolina residents. But under the 730 day rule my client must use North Carolina exemptions. So what difference does it make what North Carolina law says? Federal law ( 522) says she must use North Carolina exemptions. If the NC exemptions cannot be used except by residents of the state of NC, the next step is federal. Debtors cannot be left without exemptions. Code makes provision for that by stating that if referral to a state's exemptions means that the debtor would not be entitled to any exemption (because they don't apply to non-residents or otherwise), then use federal bankruptcy exemptions.
