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Prepetition Assets
Assets that a debtor possesses before filing for bankruptcy protection, which are generally subject to evaluation and potentially used to satisfy creditor claims in the bankruptcy process.
Federal Bankruptcy Exemptions
Legal provisions that allow individuals declaring bankruptcy to retain a portion of their property from creditors.
Federal Bankruptcy Exemptions
Provisions in U.S. federal law that allow an individual filing for bankruptcy to keep certain property from being seized by creditors.
Individual Retirement Account
A financial tool that provides tax advantages for retirement savings in the United States.
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