Legal Question in Bankruptcy in Georgia

Re: Listing Questions

If you file a bankruptcy you must list all your debts.

It would be impossible to give you a complete answer to your other questions without a full review of all your numbers (the worksheet at www.glenashman.com is a place to compile that if you work through our office). However I can give some general answers:

Many 401Ks will survive a bankruptcy. We'd need details to give a definitive answer.

The equity in your real estate would determine if you could keep it. A person can keep up to $10K in equity (couples who jointly own land can keep 20K).

Sears routinely waives their security interest in bankruptcy. So usually you could keep the mower. However, a recent purchase might be an exception, and we'd have to know how recent it was and the cost and what else was on the account.

Medical bills are very simple to discharge in bankruptcy.

Get one of our worksheets if you'd like to talk to us, and once completed, call me at 404-768-3509 and I can look at details.

Glen Ashman

www.glenashman.com