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Fritz Is a Professional Painter and Owns a Truck Worth

Question 37

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Fritz is a professional painter and owns a truck worth $10,000 and tools worth $3,000.He owns a very modest house worth $17,000.He has numerous unsecured debts totaling $500,000 and considers filing for bankruptcy.Discuss the bankruptcy alternatives for Fritz.

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If Fritz files for Chapter 7 liquidation...

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