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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, 49-4-35

UNLIMITED

Alimony, support or maintenance

Ga. Code Ann. § 44-13-100(a)(2)(D)

UNLIMITED

Annuity and endowment contract benefits

Ga. Code Ann. § 33-28-7

UNLIMITED

Assistance to the disabled-100%

Ga. Code Ann. § 49-4-84

UNLIMITED

Benefits from fraternal benefits societies-100%

Ga. Code Ann. § 33-15-20

UNLIMITED

Compensation for loss of future earnings

Ga. 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 Earnings

Ga. Code Ann. § 18-4-20

UNLIMITED

Government benefits: social security, unemployment comp

Ga. Code Ann. § 44-13-100(a)(2)(A)

UNLIMITED

Group insurance

Ga. Code Ann. § 33-27-7

UNLIMITED

Group/blanket accident and sickness insurance-$250 per month

Ga. Code Ann. § 33-30-10

UNLIMITED

Health aids, professionally prescribed-100%

Ga. Code Ann. § 44-13-100(a)(10)

UNLIMITED

Household Furnishings limit $300 per item

Ga. Code Ann. § 44-13-100(a)(4)

$5,000

$10,000

Industrial life insurance policy

Ga. Code Ann. § 33-26-5

UNLIMITED

IRA - to extent reasonably necessary for support

Ga. Code Ann. § 44-13-100(a)(2)(F)

UNLIMITED

Jewelry

Ga. 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 proceeds

Ga. Code Ann. § 44-13-100(a)(11)(C)

UNLIMITED

Life insurance proceeds

Ga. Code Ann. § 44-13-100(a)(11)(C)

UNLIMITED

Life insurance -unmatured-dividends

Ga. Code Ann. § 44-13-100(a)(9)

$2,000

$4,000

Motor vehicles

Ga. Code Ann. § 44-13-100(a)(3)

$3,500

$7,000

Old age assistance-100%

Ga. Code Ann. § 49-4-35

UNLIMITED

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 payments

Ga. Code Ann. § 44-13-100(a)(11)(D)

$10,000

$20,000

Proceeds of accident/sickness insurance-$250 per month

Ga. Code Ann. §§ 33-29-15, 33-30-10

UNLIMITED

Produce, rents or profits from exempt property

Ga. Code Ann. § 44-13-18

UNLIMITED

Real or personal property-homestead or burial plot

Ga. Code Ann. § 44-13-100(a)(1)

$10,000

$20,000

Retirement And Pension Benefits

Ga. Code Ann. § 18-4-22

UNLIMITED

Retirement benefits - District Attorney's

Ga. Code Ann. § 47-12-101

UNLIMITED

Retirement benefits - Firemen

Ga. Code Ann. § 47-7-122

UNLIMITED

Retirement benefits - Legislators

Ga. Code Ann. § 47-6-100

UNLIMITED

Retirement benefits - Sheriff & Peace Officers

Ga. Code Ann. §§ 47-16-122, 47-17-103

UNLIMITED

Retirement benefits - State, county, city employees

Ga. Code Ann. §§ 47-2-332, 47-5-71

UNLIMITED

Retirement benefits - Teachers, public school employees

Ga. Code Ann. §§ 47-3-28, 47-4-120, 47-3-26

UNLIMITED

Retirement -Judges/court employees

Ga. Code Ann. §§ 47-11-91, 47-14-91

UNLIMITED

Retirement/Pension plan-undistributed funds

Ga. Code Ann. § 44-13-100(a)(2.1)

UNLIMITED

Tools of trade

Ga. 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 - $250

Ga. Code Ann. § 34-7-4

UNLIMITED

Wildcard-$600 + unused homestead exemption amount

Ga. Code Ann. § 44-13-100(a)(6)

UNLIMITED

Worker's Compensation-100%

Ga. Code Ann. §§ 34-9-84, 49-4-84

UNLIMITED

Wrongful death payments

Ga. Code Ann. § 44-13-100(a)(11)(B)

UNLIMITED