Question
A debtor has an automobile worth $5000.The federal exemption applicable to her is $3225.The trustee sells the car and gives the debtor the amount of
A debtor has an automobile worth $5000.The federal exemption applicable to her is $3225.The trustee sells the car and gives the debtor the amount of the exemption.The debtor, exhausted by the bankruptcy proceedings, takes the money and spends it on a six week vacation in Mexico.
Is this abuse of the bankruptcy system?
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International Business Law and Its Environment
Authors: Richard Schaffer, Filiberto Agusti, Lucien J. Dhooge
9th edition
1285427041, 978-1285427041
