Does bankruptcy stop deficiency judgment in Georgia?
In the state of Georgia, filing for Chapter 7 bankruptcy will wipe out most debts, with the exception of alimony, child support, most recent back taxes, students loans, recent large purchases of luxury goods over $500, government fines or penalties, fraudulent debts, and cash advances of at least $750 within 70 days of filing. Therefore, a debtor can avoid a deficiency judgment after a foreclosure by filing for a Chapter 7 bankruptcy.
