Multiple Choice
Justin filed a Chapter 7 bankruptcy petition in which he exempted his home,valued at $123,000.Justin can keep his entire home from all creditors if:
A) he claims his exemptions under the federal Bankruptcy Code.
B) he lives in a state that allows an exemption amount of at least $123,000.
C) he lives in a state that allows an exemption amount of at least $123,000, he has lived in that state for at least two years prior to filing for bankruptcy, and there are no secured creditors with perfected liens against the home.
D) None of the above.
Correct Answer:

Verified
Correct Answer:
Verified
Q5: Which of the following statements concerning a
Q10: First Bank loaned $400,000 to Thomas,taking a
Q25: Great State Bank loans money to Seth,securing
Q35: Gateway sold a big-screen TV and entertainment
Q38: Once a default occurs in a secured
Q39: Iris received a discharge under a Chapter
Q42: Esmeralda is a debtor in a Chapter
Q43: Karen has filed for bankruptcy under Chapter
Q44: A financing statement,once filed,is effective for six
Q45: Marteen,Inc.sold several wood-working machines to Crown Doors,taking