Written by attorney Jonathan C. Ginsberg

What is the Difference Between the Georgia Exemption Law and the Federal Exemption Law?

When you file #bankruptcy - either #Chapter7 or #Chapter13 - you can declare some or all of your property as “exempt.” When your property is exempted no party, neither creditors or the bankruptcy trustee, can try to grab it or make any claim on it. #bankruptcyexemptions #exemptproperty

Typically, for example you will declare as exempt your clothes, pots and pans, tables and chairs, plates and glasses and other household goods.

Big ticket items like equity in real estate, your motor vehicles, money in retirement plans, jewelry, and cash on hand may also fit within an exemption category - the question is which law applies?

As I discuss in this video, the federal #bankruptcycode has an unusual twist in that states can choose to use a federal exemption law, or state legislatures can draft their own exemption statutes.

#Georgia falls into the latter category - most Georgia residents who file bankruptcy within the state are required to use the #Georgiaexemptionstatute. There is no choice unless you have recently moved to Georgia within the past 2 years - different rules apply.

Residents of other states may have different options - some states allow filers to choose which statute to apply and in some jurisdictions only the federal exemption law applies.

This is why it is dangerous to type “bankruptcy exemptions” into Google or other search engines and expect to get an accurate result. Some websites have outdated information, while others do not make it clear that Georgia residents have no choice.

The Georgia state legislature changes the exemption statute from time to time - visit for the current version. If you are interested in a comparison, the federal exemption statute (which does not apply in Georgia) is here: #atlantabankruptcyattorney #bankruptcyatlanta

FREE CASE EVALUATION If you would like me to analyze your finances please contact me at

CONTACT ME Jonathan Ginsberg Atlanta Bankruptcy Attorney Website: Facebook: Telephone: 770-393-4985

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