Are there any assets that I will not be able to keep in bankruptcy?

Yes, there are assets that you will not be able to keep in a bankruptcy in North Carolina. First, any assets that you acquired through fraudulent means cannot be exempt in bankruptcy. This means if you obtained property, money, or any other item through fraudulent activity, you will not be able to keep it in a bankruptcy. Also, any assets you acquired within the 180-day period prior to filing for bankruptcy will likely not be exempt. This means if you purchase a car, new furniture, or jewelry just prior to filing for bankruptcy, you will likely not be allowed to keep them. Another important asset that is not exempt in bankruptcy is any inherited assets. This means if you received any property, money, or other items from a relative or friend, you will not be able to keep them in a bankruptcy. Lastly, there are certain types of debt that cannot be discharged in bankruptcy. These types of debt include student loans, alimony, unpaid taxes, and any court judgments. You will need to make payment arrangements for these types of debt separately from filing for bankruptcy. Overall, bankruptcy can be a great option for those facing financial hardship, but it is important to remember that there are certain assets you will not be able to keep when you file. Make sure to consult with a qualified bankruptcy attorney to understand your rights and options.

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Are there any assets that I will not be able to keep in bankruptcy?

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