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John is a very smart professional. However, he agreed to personally guarantee a real estate development loan. Unfortunately, the project has been stalled and John has to pay the interest, which amounts to $45,000 per month? There appears to be little hope for John avoiding bankruptcy. Which of the following assets is not protected from creditors by federal bankruptcy?

(a) SEP IRA

(b) Private 457(b)

(d) IRA inherited from his father seven years ago.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92332665

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