Georgia Bankruptcy
Exemption Law Update

HB 1024: Partner and State Representative Soo Hong Helps Lead Modernization of Georgia Bankruptcy Protections

At the intersection of legal experience and public service, State Representative and partner Soo Hong continues to advocate for practical reforms that strengthen protections for Georgia families and businesses. One of those efforts came through the passage of HB 1024 during the 2026 legislative session.

HB 1024 modernizes Georgia’s bankruptcy exemption laws by updating protections that had become outdated in light of rising home values and changing economic conditions. As both a practicing attorney and member of the Georgia House of Representatives, Partner Soo Hong sponsored this important legislation aimed at providing fairness and stability for Georgians navigating financial hardship.

For decades, Georgia’s homestead exemption amounts in bankruptcy cases remained largely unchanged despite significant increases in property values across the state. HB 1024 addresses that issue by increasing protections for primary residences and updating provisions within O.C.G.A. § 44-13-100 to better reflect modern economic realities.

This bill increases the bankruptcy homestead exemption to $50,000.00 for individuals and $100,000.00 for jointly titled primary residence. This increased bankruptcy homestead exemption will go into effect July 1, 2026. This bill also adds an automatic inflation adjustment mechanism tied to the Consumer Price Index (CPI). This means the exemption amounts will periodically adjust over time based on inflation rather than remaining stagnant for decades as they previously had. The indexing provision is intended to ensure the law keeps pace with rising home values and economic conditions without requiring continual legislative updates.

How HB 1024 Strengthens Georgia Bankruptcy Protections

Bankruptcy laws are designed to provide individuals with an opportunity for a financial fresh start while preserving essential assets necessary for stability and recovery. HB 1024 helps ensure Georgia law continues to fulfill that purpose.

As both a legislator and attorney, partner Soo Hong remains committed to policies and legal reforms that support economic opportunity, protect families, and strengthen Georgia’s legal framework. HB 1024 reflects a commonsense approach to updating state law in a way that balances fairness for debtors, creditors, homeowners, and businesses alike.

At Blevins & Hong, we understand firsthand how financial hardships can impact individuals, families, and small business owners. We remain dedicated to helping clients navigate complex legal issues with practical guidance, experienced representation, and a commitment to achieving long-term solutions.

If you are interested in filing bankruptcy, partner Soo Hong is available to assist. Contact us today.