Bankruptcy filings are governed by the bankruptcy laws of the state in which they are filed.  For this reason, a Georgia bankruptcy will be very different from a California bankruptcy or a Connecticut bankruptcy. 

The most significant area of difference is in the laws pertaining to exemptions.  A bankruptcy in Georgia will allow an individual to protect up to $10,000 of equity in their residence, up to $5,000 in their household goods, and up to $3,500 in motor vehicles. 

If you were filing the same bankruptcy in Rhode Island, you would be able to protect $300,000 in home equity, $12,000 in motor vehicle equity, all clothing, $1,500 worth of tools used in the debtor’s profession and the library of a professional, and one burial plot. 

Those filing for bankruptcy in California would be able to claim homestead exemptions of $75,000 if they are living with other non-owner family members, up to $150,000 if they are older than 65 or disabled and up to $50,000 if the previous statuses do not apply. 

Because bankruptcy varies so much from state to state, it is highly recommended that you contact a qualified Georgia bankruptcy attorney to assist you with the process of filing a bankruptcy in the state of Georgia.  This professional will be knowledgeable in all aspects of bankruptcy law in Georgia and will be able to help you ensure that you protect as much of you assets as possible.