Georgia Bankruptcy Exemptions

The chart below contains a summary of Georgia state bankruptcy exemptions and other relevant statutory laws. Click here for complete State of Georgia bankruptcy exemptions laws.
Note: Federal bankruptcy exemptions are not available.

Personal exemptions allowed by Georgia Bankruptcy Laws

Note: Under the 2005 bankruptcy law, almost all types of tax-exempt retirement accounts are exempt in bankruptcy whether state or Federal exemptions are used. Exemptions for 401(k)s, 403(b)s, profit-sharing and money purchase plans, and defined benefit plans include the entire account amounts. However, with traditional and Roth IRAs, the exemption is limited to a total value of $1,171,650 per person for all accounts held by the debtor (not per account). The total value amount is adjusted every three years for inflation. The relevant statutes: 11 U.S.C. §522(d)(12) for Federal bankruptcy exemptions; 11 U.S.C. §522(b)(3)(C) for state bankruptcy exemptions.

ASSETEXEMPTIONLAW
Georgia HomesteadReal property or personal property (including a co-op) used as residence to $10,000; to $20,000 if married

Note: up to $5,000 of unused portion of homestead may be applied to any property

44-13-100(a)(1); 44-13-100(a)(6)
WagesMinimum 75% of earned but unpaid weekly disposable earnings, or 30 times the state or Federal hourly minimum wage (whichever is greater). Bankruptcy judge may authorize more for low-income debtors.18-4-20; 18-4-21
AutomobileUp to $3,50044-13-100(a)(3)
Other propertyGroup insurance33-30-10
Alimony and child support needed for support44-13-100(a)(2)(D)
Animals, crops, clothing, appliances, books, furnishings, household goods, and musical instruments up to $300 per item, $5,000 total44-13-100(a)(4)
Jewelry up to $50044-13-100(a)(5)
Implements, books, and tools of trade up to $1,50044-13-100(a)(7)
Wildcard$600 of any property44-13-100(a)(6)
Unused portion of homestead exemption to $5,00044-13-100(a)(6)

Note: While this reference information is current as of August 2010, it may not reflect the most up-to-date exemption figures on official state of Georgia bankruptcy court statutes.

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Go to Complete State of Georgia bankruptcy exemptions laws.

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