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If you buy a cheap used car right after you file Chapter 7 in Georgia will you have to include it in the case?
Wiki User
∙ 8y ago
Georgia uses state bankruptcy laws, no Federal deductions are allowed. Under Ga. BK statutes the exemption amount for a vehicle is $3500. You are allowed to keep one vehicle only, unless there are migating circumstances, such as disabled person in the household.
For the most part.. NO.
Bankruptcy only deals with the date of filing or BEFORE.
Now.. that's not to say you can go out and buy a $100,000 car.
Either way, you don't include it "in the bankruptcy" because it was not an asset at the time of filing, which is what the peition shows.
Wiki User
∙ 8y ago
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