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Making a Fresh Start

As part of the “fresh start” policy of the Bankruptcy Act, some assets may be kept by the debtor. However, there are some debts that cannot be discharged (cancelled) by bankruptcy.

Part A

Use information on pages 498-499 in your textbook and the website http://www.georgiabankruptcy.com/exemptions.html to create a chart. Organize and list information about

1. debts not cancelled by personal bankruptcy
2. assets exempt from bankruptcy (including maximum dollar amounts) under Georgia and federal law

Part B

Do you agree or disagree with these exemptions? Make your argument.

Save as Making a Fresh Start.