Write an essay responding to the following: Due Today November 30th @7:00pm Please compare and contrast the different state homestead exemption laws and discuss whether and how they can impact federal bankruptcy law and the choices of legal options for potential debtors. (For example, TX , FL, ARKANSAS, IOWA, KANSAS, OKLAHOMA, AND SOUTH DAKOTA have an unlimited Homestead exemption, NJ and PA have no Homestead exemption and NY has different Homestead exemptions throughout the state depending on which county of the state you live in, i.e.-Queens County-

Write an essay responding to the following: Due Today November 30th @7:00pm

Please compare and contrast the different state homestead exemption laws and discuss whether and how they can impact federal bankruptcy law and the choices of legal options for potential debtors. (For example, TX , FL, ARKANSAS, IOWA, KANSAS, OKLAHOMA, AND SOUTH DAKOTA have an unlimited Homestead exemption, NJ and PA have no Homestead exemption and NY has different Homestead exemptions throughout the state depending on which county of the state you live in, i.e.-Queens County-Homestead Exemption $179,975.00; Albany County-Homestead Exemption $149,975.00 and $89,975.00 Homestead Exemption for other counties throughout the State

Discuss the exemption in your state (or adopted state) and how it compares to other the varied laws of at least three (3) other states.

Discuss the benefits or disadvantages of a varied scheme guided by state laws versus the potential for a more uniform federal homestead exemption scheme.

Discuss which state and/or hypothetical approach to the homestead exemption, in your opinion, works best to balance the competing interests of debtors and creditors. Query: Would it be better if there was a special provision of the Bankruptcy Code that allowed a Debtor to be given a choice as to which Homestead Exemption he could use (either state or federal), regardless of the fact that the State he resides in will only allow just one choice for exemptions-i.e. either all state or all federal under 11 U.S.C. Section 522(d)?

Discuss whether the present approach to the homestead exemption should be changed, and if so, how procedurally and substantively you would change it?

Discuss if and why this topic is relevant given the vacillations and instability in our economy, and in the financial welfare of individuals living throughout our country.

The Essay needs to have the applicant’s name and contact information (phone number and email) at the top.

The essay should contain:

Essay Topic

References – Please back up facts and/or laws in the essay with references and/or citations.

Arguments – Please take a position on the Current Essay Topic and develop it with arguments to support that position.

Originality – Essays need to be original writing that the contestant composed specifically for this contest.