What Are the Georgia Bankruptcy Exemptions?

If you are considering filing for bankruptcy in Georgia, it is important to know what assets you are allowed to keep. This is because the bankruptcy process requires individuals to give up most of their possessions in order to pay off their debts. However, there are certain items that are exempt from this liquidation process. Here are some of the most common Georgia bankruptcy exemptions:

-Your home: You are allowed to keep your primary residence up to a value of $21,500.

-Your car: You are allowed to keep one vehicle up to a value of $5,000.

-Personal belongings: You are allowed to keep certain personal belongings such as clothing, furniture, and appliances up to a combined value of $300.

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