Legal Question in Credit and Debt Law in North Carolina

Question 5 concerns land. You own the land whether you own it outright or you are paying a mortgage. List your primary residence in question 5 unless you rent but happen to own land elswehere. You can exempt up to $30,000 in equity in a residence (assuming that you are not elderly and your spouse has not died - in that case it would be more). You want to save your $5000 wildcard for question 8.

Question 6 is for personal items - you get $5000 worth of personal property for you and $1000 for each dependent child you have.

Question 8 is the "wildcard." Use it to exempt (protect) anything else - bank accounts or anything not covered in questions 5, 6, 7, 9 and the rest. This could cover any other real estate not listed in question 5 provided that you have $5,000 or less equity in it. However, you want to protect other stuff too.

This forum is not really the place to review the form. Please - get legal advice in filling this ou, whether its from me or another attorney. I charge $50 to review the form with you. Please contact me at [email protected] if interested. You only have 20 days after you received the paper to get it filled out and returned to the court so don't delay.