Georgia State Bankruptcy Exemptions
Laws That Keep Your Creditors' Hands Off Your Property
Exemptions are laws passed by every state that allow you to protect certain
types of your property from your creditors when you file bankruptcy-such as
your home, car, pensions and IRAs, motor vehicles, clothing, tools, and other
important property. Georgia law provides a number of exemptions that protect
your property, and your attorney will be able to advise you on which exemptions
are best for you.
Homestead
$10,000 exemption for real or personal property ($20,000 if property
owned by a married person).
Wages
75 percent of weekly earnings are exempt.
Automobiles
The debtor's interest, not to exceed the total of $3,500.00 in value, in
all motor vehicles.
Other Property
$1,500.00 in value, in any implements, professional books, or tools of
the trade of the debtor or the trade of a dependent of the debtor; $300.00
in value in any particular item, in household furnishings, household goods,
wearing apparel, appliances, books, animals, crops, or musical instruments that
are held primarily for the personal, family, or household use of the debtor or
a dependent of the debtor (maximum of $5,000.00 in total value); and $500.00
in jewelry.
Note: Exemptions may have changed since our last update.
» Read the complete Georgia bankruptcy
exemptions here
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