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Bankruptcy and Exemptions – What They Are and Why You Need to Know

February 10th, 2010

One of the most common fears of those facing bankruptcy is that they will be left homeless with no earthly possessions.  Fortunately, this is not the case.  Each state has its own set of exemption statutes that ‘exempt’ certain property — meaning that your creditors cannot take it from you.  Most are familiar with the