When you file a Chapter 7 bankruptcy, any assets that you own, including funds in your bank account, become property of the bankruptcy estate. However, each Chapter 7 debtor is allowed to exempt certain property so as to protect it from being used to pay creditors. In Georgia, the exemption normally used to protect funds in a bank account is found in O.C.G.A Section 44-13-100(a)(6). It allows you to exempt up to $5600 in any assets. There are other exemptions that are used to protect the equity in your home, your household goods, an automobile, etc.

At Morgan & Morgan, when we are considering a case under Chapter 7, we carefully review your assets and work to maximize your exemptions. We work hard to insure that you get the fresh start you deserve.

Morgan & Morgan is located in Athens, Georgia. We have more than 30 years experience handling bankruptcy, Social Security Disability, and workers compensation cases throughout North Georgia. Check our website at www.morganlawyers.com and call (706) 468-3364 for a free initial consultation.