What are the arizona bankruptcy exemptions

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Reference no: EM133364189

Question: Imagine that you work for the Federal Reserve Bank of New York, and the governor wants to understand the federal bankruptcy process. He is worried that the COVID19 situation will lead to a surge in personal bankruptcy. The governor wants to know the following:

1. What is Chapter 7 Bankruptcy? (max 5 sentences)

2. What is Chapter 13 Bankruptcy? (max 5 sentences)

3. What are the Arizona bankruptcy Exemptions? (max 5 sentences)

4. How common is personal bankruptcy in Arizona (discuss both Chapters)? How many people are affected in a given year, how has it changed over time, and how does it vary with the business cycle? (max 10 sentences)

Reference no: EM133364189

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