The debtor's bankruptcy estate was over-exempt by $11,000. 1. Define over-exempt as it applies to bankruptcy. 2. How does being over-exempt affect a Chapter 7 and Chapter 13 case. 3. What is the wildcard exemption?

The debtor's bankruptcy estate was over-exempt by $11,000. 1. Define over-exempt as it applies to bankruptcy. 2. How does being over-exempt affect a Chapter 7 and Chapter 13 case. 3. What is the wildcard exemption?

Entrepreneurial Finance

6th Edition

ISBN:9781337635653

Author:Leach

Publisher:Leach

Chapter16: Financially Troubled Ventures: Turnaround Opportunities?

Section: Chapter Questions

Problem 20DQ

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Question

The debtor's bankruptcy estate was over-exempt by $11,000.

1. Define over-exempt as it applies to bankruptcy.

2. How does being over-exempt affect a Chapter 7 and Chapter 13 case.

3. What is the wildcard exemption?

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