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BUSINESS LAW What are Exemptions, in the context of debtor protection? Name a few.

BUSINESS LAW

What are Exemptions, in the context of debtor protection? Name a few.

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Answer #1

Answer:-

What Are Exemptions?

All states have assigned specific kinds of property as "exempt," or liberated from seizure, by judgment creditors. For instance, attire, essential family unit decorations, your home, and your vehicle are ordinarily exempt, insofar as they're not worth to an extreme. In any case, any property you have that isn't exempt can be taken to pay your obligations

Debtor protection:-

Eligibility for discharge.

Exemptions to discharge.

Effect of discharge.

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