Absolutely not! North Carolina and Florida law set up exemptions that will protect your assets from creditors. We will determine if you can keep everything you own under NC or FL law before you file for bankruptcy protection. Most of our clients who are eligible for Chapter 7 bankruptcy are able to keep everything they own while completely wiping out their unsecured debt. If you cannot protect everything in a Chapter 7, you will still have the option to file for Chapter 13 bankruptcy to protect all of your assets.