Which of the following is true about exemptions for an individual in Chapter 7 bankruptcy?
A) The federal statutory exemptions apply in all cases.
B) Exemptions are always determined by state law.
C) The federal law allows states to establish their own exemptions, which can be either mandatory or optional, to use instead of federal exemptions.
D) The state exemptions, where present, are always "pro-debtor."
E) Homestead exemptions are never higher under state law than under federal law.
Correct Answer:
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