Debtors may be allowed to keep certain assets even after they have filed for liquidation.

Name: Debtors may be allowed to keep certain assets even after they have filed for liquidation.
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Debtors who file for Chapter 7 bankruptcy may be able to exempt certain assets from liquidation, such as necessary clothing, household goods, a primary residence, and tools of their trade up to a certain value. However, the specific exemptions and limits vary by state.

Debtors May Be Allowed to Keep Certain Assets Even After