Bankruptcy Exemptions: What They Are and Why They Matter

https://youtu.be/Id7Q7NNTses When a bankruptcy case is filed, all of the debtor’s property automatically becomes property of their bankruptcy estate, and a federal trustee is appointed to oversee the administration of this estate. However, exemptions in bankruptcy law allow individuals to retain many items of property that would otherwise be subject to levy by a bankruptcy trustee. For most individuals and…

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