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Filing bankruptcy should be a last resort for anyone who is serious
about their financial future. Especially, anyone who owns substantial
equity in their home must consider the amount of exempt property covered
by their state homestead exemption, and the possibility of claiming the
federal homestead exemption. Income stability, cash flow, and monthly
obligations must be considered in addition to total assets and
liabilities. To compare debt relief options effectively, a side by side
guide comparing anticipated results is essential. Somewhat complicated,
definitely, but well worth the time before committing to any course of
action.
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