Bankruptcy Exemptions in Georgia
What property you can keep in bankruptcy in Georgia: homestead, vehicle, wildcard and retirement exemptions, and whether you can choose the federal exemptions.
Short answer: Georgia filers must use Georgia's exemptions: a Georgia-domiciled debtor "is prohibited from applying or utilizing 11 U.S.C. Section 522(d)." O.C.G.A. 44-13-100(b)
| State or federal exemptions | Georgia filers must use Georgia's exemptions: a Georgia-domiciled debtor "is prohibited from applying or utilizing 11 U.S.C. Section 522(d)." Read on FindLaw ("Current as of March 28, 2024"), a mirror permitted for Georgia; verify against the official Georgia Code. Source: O.C.G.A. 44-13-100(b) |
|---|---|
| Homestead exemption | Up to $21,500 in real or personal property used as a residence; $43,000 where the property is titled solely in one of two spouses who is a debtor. Read on FindLaw ("Current as of March 28, 2024"), a mirror permitted for Georgia; verify against the official Georgia Code. No acreage limit is stated in this section. Source: O.C.G.A. 44-13-100(a)(1) |
| Car exemption | Up to $5,000 total in motor vehicles. Read on FindLaw ("Current as of March 28, 2024"), a mirror permitted for Georgia; verify against the official Georgia Code. Source: O.C.G.A. 44-13-100(a)(3) |
| Wildcard exemption | Any property up to $1,200, plus up to $10,000 of any unused homestead exemption. Read on FindLaw ("Current as of March 28, 2024"), a mirror permitted for Georgia; verify against the official Georgia Code. Source: O.C.G.A. 44-13-100(a)(6) |
| Retirement accounts | The debtor's interest in funds held in qualifying retirement plans (public, nonprofit and private-sector plans, and IRAs) that have not yet been distributed is exempt; payments from pension, annuity or similar plans are exempt to the extent reasonably necessary for support. Read on FindLaw ("Current as of March 28, 2024"), a mirror permitted for Georgia; verify against the official Georgia Code. |
| Wages | Garnishment may not take more than the lesser of 25% of weekly disposable earnings (15% for a private student loan judgment) or the amount by which weekly disposable earnings exceed $217.50. Read on FindLaw ("Current as of March 28, 2024"), a mirror permitted for Georgia; verify against the official Georgia Code. This is the garnishment limit; 44-13-100 has no separate bankruptcy wage exemption. Source: O.C.G.A. 18-4-5(a)(2) |
More Georgia bankruptcy
FAQ
Can you use the federal bankruptcy exemptions in Georgia?
Georgia filers must use Georgia's exemptions: a Georgia-domiciled debtor "is prohibited from applying or utilizing 11 U.S.C. Section 522(d)."
How much home equity is protected in bankruptcy in Georgia?
Up to $21,500 in real or personal property used as a residence; $43,000 where the property is titled solely in one of two spouses who is a debtor.
Can I keep my car in bankruptcy in Georgia?
Up to $5,000 total in motor vehicles.
Does Georgia have a wildcard exemption?
Any property up to $1,200, plus up to $10,000 of any unused homestead exemption.
Are retirement accounts protected in bankruptcy in Georgia?
The debtor's interest in funds held in qualifying retirement plans (public, nonprofit and private-sector plans, and IRAs) that have not yet been distributed is exempt; payments from pension, annuity or similar plans are exempt to the extent reasonably necessary for support.
Are wages protected in bankruptcy in Georgia?
Garnishment may not take more than the lesser of 25% of weekly disposable earnings (15% for a private student loan judgment) or the amount by which weekly disposable earnings exceed $217.50.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.