wildcard exemption

Definition of "wildcard exemption"
  1. A special provision enabling a debtor to protect a fixed sum of their property from creditors beyond what's already exempt
How to use "wildcard exemption" in a sentence
  1. Filing for bankruptcy, John utilized the wildcard exemption to protect additional assets.
  2. The wildcard exemption can increase the value of property that may be saved from liquidation.
  3. By using the wildcard exemption, she secured her family heirlooms from the bankruptcy claim.

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