Georgia Bankruptcy Exemptions

Georgia Bankruptcy Exemptions

Because the federal exemptions are not available in Georgia,  residents must use the Georgia state law exemptions, plus the federal non-bankruptcy exemptions.

If you have no real estate, or don't need to use all the $21,500 homestead exemption, you can use up to $10,000 of unused homestead exemptions to protect personal property .  The $5000 personal property seems generous, but it's limited to $300 per item,  . 

Vehicles exempted to $5,000 is good, and If not using the homestead for real estate, you can use up to $10,000 of the unused amount as a wildcard exemption for any other property. And you can protect $2,000 of other property, and $1,500 in tools of trade

Georgia's neighbors treat debtors more generously.  Mississippi offers its residents a blanket $50,000 wildcard exemption, while Florida threats those with real estate with a homestead that exempts any value of real estate limited only by lot size.

The Georgia homestead of only $21,500 may not protect much, although spouses can double it even if one spouse files individually. (Bankruptcy only: $43,000 if title to property is in one of two spouses who is a debtor. Ga. Code Ann. § 44-13-100(a)(1) )

Other Discussions of Georgia Exemptions On The Web

Both UpSolve and Nolo have discussions of Georgia bankruptcy exemptions

Can I use the §522(d) Federal Bankruptcy  Exemptions in Georgia? 

No. Ga. Code Ann. § 44-13-100(b).


Notes About Georgia Exemptions

Overview ▼
Homestead ▼
Tenancy By The Entirety ▼
Personal Property ▼
Tools of Trade ▼
WildCard ▼
Wages ▼
Insurance ▼
Pensions & Retirement Assets ▼
Public Benefits ▼
Miscellaneous ▼
All at once ▼