Whenever a majority in number and value of the creditors of any insolvent, as aforesaid, residing within the United States, or having a known attorney therein, shall consent in writing thereto, it shall be lawful for the court by whom such insolvent shall have been discharged, upon the application of such debtor, and notice given thereof, in the manner hereinbefore provided for giving notice of his original petition, to make an order that the estate and effects which such insolvent may afterwards acquire shall be exempted, for the term of seven years thereafter, from execution, for any debt contracted, or cause of action existing, previously to such discharge, and if, after such order and consent, any execution shall be issued for such debt, or cause of action it shall be the duty of any judge of the court from which such execution issued to set aside the same, with costs.
39 P.S. § 285