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Question
The filing of a bankruptcy petition operates as a(n):
A. exemption of certain items of property.
B. discharge, relieving the bankrupt person of further responsibility for dischargeable debts, giving him/her a fresh start.
C. automatic stay, holding in abeyance various forms of creditor action against a debtor or his/her property.
D. redemption of exempt personal property from secured creditors by paying them the full value of the collateral at the time the property is redeemed.
Answer
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