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house value Tag

Georgia Bankruptcy and the Value of Your House

Many Georgia consumers who file bankruptcy will ask, "How can I find out the true of my house before I file?"As I've stated in a previous post,  determining the value of your house in Georgia must be done before you file because this value may determine whether your file Chapter 13 or Chapter 7 bankruptcy.A great place to start when trying to determine the value of your house is the Georgia Tax Assessors website.  On this site, you can get to your Georgia County's webpage and find out how much your county has valued your house for tax purposes.  Also,...

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Filing Bankruptcy- You Must Know the Value of Your House

The purpose of this blog is to give you a rough idea about why you must know the value of your house before you even think about filing bankruptcy in Georgia.  Under Georgia Law, a single person can exempt a maximum of $10,600 of equity in their house when they are filing either Chapter 13 or Chapter 7 (see GA Code 44-13-100).  For married couples filing bankruptcy in Georgia, the maximum exemption is $21,200.Lets say a married couple has a home in Rome, GA worth $100,000.  They owe $70,000.  Their equity in the house is $30,000.  If we subtract the...

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