Bankruptcy Exemptions in Georgia

What belongings can I keep when filing Chapter 13 bankruptcy?

DebtStoppers clients have told us that they put off filing for bankruptcy in Atlanta because they thought they'd have to give up everything they owned. Fortunately, nothing could be further from the truth. One of the best parts of bankruptcy in Georgia is that it legally protects many of your assets through a list of bankruptcy exemptions.

Georgia exemptions can be used when filing either a Chapter 7 or Chapter 13. Exemptions determine which possessions (real estate, qualified retirement accounts, cars and trucks, etc.) you can keep in a Chapter 7 and how much you will need to pay monthly in a Chapter 13.

Married couples filing jointly can each claim the full amount of any given exemption. This is informally called "doubling," because it makes the exemptions worth twice as much.

The above section lists the main Georgia bankruptcy exemptions important to DebtStoppers clients, but the full list gets more technical. Your DebtStoppers bankruptcy attorney will make sure you get the information you need.

It's understandable to be concerned about losing your possessions. But if you're over your head in debt and don't seek protection from creditors , nothing will be exempt .

Bankruptcy stops foreclosure, wage garnishment and repossession and eliminates all or most of your debt. So you won't ever have to worry about losing your belongings again.

An Atlanta bankruptcy lawyer from DebtStoppers can explain Georgia's exemptions and how they might affect your unique financial situation. And you can find out for free by calling DebtStoppers at 404-921-2585 or by filling out our simple online form.

Related blog posts