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Home | Under Georgia Bankruptcy laws

Under Georgia Bankruptcy Laws, you can keep:

  • If you don't claim the homestead exemption a burial plot, up to $10,000 in value ($20,000 if you are married and you and your spouse jointly file for Bankruptcy).
  • Household furnishings and goods, clothes, appliances, books, animals, crops, and musical instruments, up to $300 in value per item, that does not exceed $5,000 in total value.
  • $500 worth of jewelry.
  • Professionally prescribed health aids.
  • Social security, unemployment compensation or local public assistance benefits.
  • Veterans' benefits.
  • Disability, illness or unemployment benefits.
  • Alimony, support or separate maintenance as needed for support.
  • Pensions and individual retirement accounts.
  • Professional books and tools of your trade worth $1,500.
  • Crime victims' compensation benefits.
  • Payment for personal injuries up to $10,000.
  • Payment for compensation for loss of future earnings as needed for support.
  • Payment for the wrongful death of a person you were dependent upon.
  • Payment under a life insurance contract on the life of a person you were dependent upon.
  • Any unmatured life insurance contract (except a credit life insurance contract).
  • Your aggregate interest in the loan value on any unmatured insurance contract, up to $2,000.
  • Your aggregate interest, up to $600 in value in any property, plus any unused portion of the homestead exemption to a maximum of $5,000.