Legal Question in Credit and Debt Law in North Carolina
If I claim my auto as exempt on a 'motion to claim exempt property' form, does that mean that my auto will certainly be exempt?
Asked on 7/13/10, 2:57 pm
2 Answers from Attorneys
You can exempt the equity (equity is the fair market value of the car minus any liens) up to $3,500.00. As long as the equity is $3,500.00 or less, then yes, it is exempt.
Answered on 7/13/10, 6:08 pm
Jeff Rosner
Rosner Law Firm P.A.
It depends on the value of the automobile. You also may be able to add your wild car dexemption up to a maximum of $5,000 to increase the allowable amount to $8,500
Answered on 7/14/10, 4:20 am
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