Legal Question in Bankruptcy in North Carolina

Yup, take a look at former questions and answers regarding exemptions in bankruptcy. You will have to reaffirm, that is make a new promise to pay for the car in order to keep it, but keep it you can and the court will flex its muscle to enforce your rights. In addition, if you owe more than it is worth and you have had the car more than 210 days or traded in a car with more debt than value, you will be able to redeem the car with a lump sum payment of the fair value or with payments over time in a Chapter 13. Of course this is some procedural detail involved and you should consult a lawyer and work out a plan before taking any action leading to these events.