Bankruptcy Law

Chapter 7 - Exempt Property Information

The Bankruptcy Trustee will review the values of your Personal and Real Property to determine whether they fall within one of the Legal Exemption Categories and valuations. For example, under Georgia Law a single Debtor filing Bankruptcy may have a car worth $3,500 and that car would be exempt from being liquidated during the Bankruptcy. In other words, the single Debtor would be able to retain the car in Bankruptcy.

Review the Chart below for specific items of Exemption and their values.

Chapter 7 - Exempt Property Chart

Description Law Max
Individual
Amount
Max
Joint
Amount
Aid to the blind-100%Ga. Code Ann. §§ 49-4-58, 49-4-35UNLIMITED 
Alimony, support or maintenanceGa. Code Ann. § 44-13-100(a)(2)(D)UNLIMITED 
Annuity and endowment contract benefitsGa. Code Ann. § 33-28-7UNLIMITED 
Assistance to the disabled-100%Ga. Code Ann. § 49-4-84UNLIMITED 
Benefits from fraternal benefits societies-100%Ga. Code Ann. § 33-15-20UNLIMITED 
Compensation for loss of future earningsGa. Code Ann. § 44-13-100(a)(11)(E)UNLIMITED 
Crime reparation awards-100%Ga. Code Ann. § 44-13-100(a)(11)(A)UNLIMITED 
Disability, illness, or unemployment benefit - 100%Ga. Code Ann. § 44-13-100(a)(2)(C)UNLIMITED 
Disposable EarningsGa. Code Ann. § 18-4-20UNLIMITED 
Government benefits: social security, unemployment compGa. Code Ann. § 44-13-100(a)(2)(A)UNLIMITED 
Group insuranceGa. Code Ann. § 33-27-7UNLIMITED 
Group/blanket accident and sickness insurance-$250 per monthGa. Code Ann. § 33-30-10UNLIMITED 
Health aids, professionally prescribed-100%Ga. Code Ann. § 44-13-100(a)(10)UNLIMITED 
Household Furnishings limit $300 per itemGa. Code Ann. § 44-13-100(a)(4)$5,000$10,000
Industrial life insurance policyGa. Code Ann. § 33-26-5UNLIMITED 
IRA - to extent reasonably necessary for supportGa. Code Ann. § 44-13-100(a)(2)(F)UNLIMITED 
JewelryGa. Code Ann. § 44-13-100(a)(5)$500$1,000
Life insurance - unmatured-100%Ga. Code Ann. § 44-13-100(a)(8)UNLIMITED 
Life insurance proceedsGa. Code Ann. § 44-13-100(a)(11)(C)UNLIMITED 
Life insurance proceedsGa. Code Ann. § 44-13-100(a)(11)(C)UNLIMITED 
Life insurance -unmatured-dividendsGa. Code Ann. § 44-13-100(a)(9)$2,000$4,000
Motor vehiclesGa. Code Ann. § 44-13-100(a)(3)$3,500$7,000
Old age assistance-100%Ga. Code Ann. § 49-4-35UNLIMITED 
Pension, annuity, etc.Ga. Code Ann. § 44-13-100(a)(2)(E)UNLIMITED 
Pensions of public employees - 100%Ga. Code Ann. §§ 47-2-332; 18-4-22; 44-13-100(a)(2)(E)UNLIMITED 
Personal injury paymentsGa. Code Ann. § 44-13-100(a)(11)(D)$10,000$20,000
Proceeds of accident/sickness insurance-$250 per monthGa. Code Ann. §§ 33-29-15, 33-30-10UNLIMITED 
Produce, rents or profits from exempt propertyGa. Code Ann. § 44-13-18UNLIMITED 
Real or personal property-homestead or burial plotGa. Code Ann. § 44-13-100(a)(1)$10,000$20,000
Retirement And Pension BenefitsGa. Code Ann. § 18-4-22UNLIMITED 
Retirement benefits - District Attorney'sGa. Code Ann. § 47-12-101UNLIMITED 
Retirement benefits - FiremenGa. Code Ann. § 47-7-122UNLIMITED 
Retirement benefits - LegislatorsGa. Code Ann. § 47-6-100UNLIMITED 
Retirement benefits - Sheriff & Peace OfficersGa. Code Ann. §§ 47-16-122, 47-17-103UNLIMITED 
Retirement benefits - State, county, city employeesGa. Code Ann. §§ 47-2-332, 47-5-71UNLIMITED 
Retirement benefits - Teachers, public school employeesGa. Code Ann. §§ 47-3-28, 47-4-120, 47-3-26UNLIMITED 
Retirement -Judges/court employeesGa. Code Ann. §§ 47-11-91, 47-14-91UNLIMITED 
Retirement/Pension plan-undistributed fundsGa. Code Ann. § 44-13-100(a)(2.1)UNLIMITED 
Tools of tradeGa. Code Ann. § 44-13-100(a)(7)$1,500$3,000
Veterans' benefits-100%Ga. Code Ann. § 44-13-100(a)(2)(B)UNLIMITED 
Wages of deceased state employee - $250Ga. Code Ann. § 34-7-4UNLIMITED 
Wildcard-$600 + unused homestead exemption amountGa. Code Ann. § 44-13-100(a)(6)UNLIMITED 
Worker's Compensation-100%Ga. Code Ann. §§ 34-9-84, 49-4-84UNLIMITED 
Wrongful death paymentsGa. Code Ann. § 44-13-100(a)(11)(B)UNLIMITED 

 

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