06/12/2026
The Georgia legislature has seen fit to amend OCGA 44-13-100 to increase the exemption on a debtor's primary residence from $21,500 to $50,000 for an individual, $100,000 for married couples.
This is a monumental law change. It means you can file a Chapter 7 bankruptcy and liquidate debt while keeping your home if you have less than $100,000 of equity (value of property above debts).
This will really help Georgia seniors who are laden with debt but have paid-for homes, or persons who lost jobs and can't fund a Chapter 13 plan but have in the past have too much equity to file a Chapter 7.
Reach out to us if you think you might benefit from this new law.
