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Keeping Property in Bankruptcy

Home » Videos » Keeping Property in Bankruptcy

Hello, this is Roger Ghai with the Law Offices of Roger Ghai and I practice bankruptcy law in the Kennesaw, Acworth, Marietta areas, as well as sometimes we take some cases from Atlanta. I wanted to speak to you this morning because a lot of times clients are very concerned about whether they will lose all of their property by filing a bankruptcy.
First of all the law does protect certain amounts of property that a debtor, a person who files bankruptcy, can actually keep and not have to surrender during the bankruptcy process. And so Georgia is like any other state in the union and it has its specific bankruptcy protection. So for example, in Georgia, you can protect up to $5,000 in equity in a vehicle, you can protect up to $21,500 in equity in your home and you can protect… For example, let’s say you’ve been involved in a motor vehicle wreck you can protect up to $10,000 in proceeds, but anything above the $10,000 would go to the bankruptcy trustee, technically. And who would go ahead and then make a dispersant to your various creditors of anything above the $10,000 if you’ve received a settlement from your personal injury case.
There are other things that can be protected in your bankruptcy case, one of which would be, let’s say for example a SEP-IRA, so if you’ve stocked some money away from your employer during an employment history with them and you’ve been saving, you can go ahead that is legally protected. IRA’s are protected. So there’s a multitude of assets that can be protected. There are limitations on some of those assets and so that really has to be analyzed as to whether you’re going to be able to everything or maybe whether you’re not going to keep a significant portion. And then you would have to reconsider whether it’s even worth it for you to file a bankruptcy depending on a variety of circumstances.
If you have questions about what property you can or can not keep by filing a bankruptcy you can call my office at 770-791-1000.

Bankruptcy Blog Posts:

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Chapter 7 Bankruptcy and Chapter 13 Bankruptcy Comparison

Good Morning, this is Roger Ghai of www.Chapter7attorneys.com. I wanted to do a little informational video on bankruptcy options. In particular, Chapter 7 bankruptcy options and Chapter 13 bankruptcy

Filing Chapter 7 Bankruptcy – January 2010 Talk Law Radio Show Transcript

Janice: Good afternoon Atlanta and welcome to News & Talk 1380 WAOK. This is Janice Mathis and we’re here this afternoon and every Sat. afternoon at 1pm to talk with one of our lawyers who’s

Difference Between Chapter 13 & Chapter 7 Bankruptcy – March 2010 Talk Law Radio Show Transcript

Janice: Good afternoon Atlanta and welcome to Legal Talk. This is Janice Mathis. This is my favorite hour of the weekend. I learn something new every weekend talking to these brilliant lawyers we have

Bankruptcy FAQ:

Bankruptcy FAQ
Bankruptcy FAQ

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Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy
Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy

The injunction is formally issued pursuant to 11 U.S.C. 362(a), commonly referred to as the Automatic Stay provision of the bankruptcy code, and it prohibits creditors from making further attempts to

Can Your Home Be Sold In Bankruptcy If You Don’t File Bankruptcy But Your Spouse Files Bankruptcy?
Can Your Home Be Sold In Bankruptcy If You Don’t File Bankruptcy But Your Spouse Files Bankruptcy?

In a recent case, In re Beck Mrs. Beck filed for bankruptcy protection but her husband did not. Together they owned a property which was valued at about $530,000.00. The property had actually been in

Can You Claim A Homestead Exemption In A Home You Do Not Live In?
Can You Claim A Homestead Exemption In A Home You Do Not Live In?

The Chapter 7 trustee objected to Mrs. Goulakos’s claim of exemption because she did not live in the house and because she was not the one who claimed the homestead exemption under Massachusetts

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    Can You Keep Your House If You File For Chapter 7 Bankruptcy?

    Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy

    Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy

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      Ghai Law Firm
      Call for a free consultation:
      (770) 792-1000

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      LAW OFFICES OF ROGER GHAI

      1301 SHILOH RD NW STE 430

      KENNESAW GA   30144

      Mon-Fri: 9AM - 6PM

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      • ABOUT
        • Testimonials
        • Join Us
      • Practice Areas
        • Personal Injury
          • Pedestrian Accident
          • Car Accidents
            • Speeding Accident
            • Drinking and Driving Accidents
            • Left Hand Turn Accident
            • Rear-End Collision
            • Reckless Driving Accident
            • Uber Accidents
            • Hit-and-Run Accidents
            • Texting and Driving Accident
              • Texting and Driving Under 18
          • Truck Accident
            • Lane Usage Accident
            • Traumatic Brain Injury
          • Product Liability
            • Defective Drugs
            • Defective Medical Device
          • Premises Liability
            • Slip and Fall Accidents
          • Wrongful Death
          • Dog Bite
        • Bankruptcy
          • Debt Relief
          • Credit Card Debt
          • Chapter 13 Bankruptcy
          • Chapter 7 Bankruptcy
          • Foreclosure Bankruptcy
          • Free Legal Case Review
          • Medical Bills Bankruptcy
          • Rebuild Your Credit
          • Wage Garnishments
      • Areas We Serve
        • Kennesaw Personal Injury Lawyer
          • Kennesaw Bankruptcy Lawyer
        • Acworth Personal Injury Lawyer
          • Acworth Bankruptcy Lawyer
        • Marietta Personal Injury Lawyer
          • Marietta Bankruptcy Lawyer
        • Smyrna Personal Injury Lawyer
      • FAQs
      • Blog
      • Videos
      • Contact