Gresham Family & Bankruptcy Law | Lillian Suelzle Watson
Bankruptcy law is based on both. The federal law controls the basics concepts of the bankruptcy, but your income and assets are based on State law and addresses exemption law and determined your means test which considers your actual income and expenses. Good luck.
Answer Applies to: Oregon
Burnham & Associates | Stephanie K. Burnham
Federal Bankruptcy laws are not different in every state, however, local practice may differ. For example, State exemptions are different in every state and some forms may be required in one state and not another. Also, cost of living are different in every state which would affect the Means test.
Answer Applies to: New Hampshire
Law Office of Asaph Abrams | Asaph Abrams
The Bankruptcy Code (Title 11) is Federal Law, yet State statutes, Circuit case law, and district-specific local-rules are integral to the process. A major component of state law is exemptions or "what stuff can I keep?" A hot-topic issue that illustrates the federal and state intersection: can a joint petition be filed by a gay married-couple? Under Federal law, DOMA implies that the answer is unequivocally no. Yet state laws that permit gay marriage contradict that. There is ongoing contention in this gray area, and there is recent ruling that opens the door to a major shift.
Answer Applies to: California
Law Office of Dennis Jay Sargent Jr, PLLC | Dennis J Sargent Jr.
The basis of the bankruptcy laws are all the same and are based upon title 11 of the United States Code. However, that being said, there are also local rules and procedures that are specific to each federal jurisdiction. In addition, each state is entitled to opt out of the federal exemptions and impose their own set of exemptions. Exemptions are the property that you are entitled to retain as part of the bankruptcy process. Bankruptcy is based upon Federal Law, but flavors of local jurisdiction rules and procedures.
Answer Applies to: North Carolina
Lakelaw - Loop Bankruptcy | David Leibowitz
Bankruptcy laws are not different in each state - bankruptcy law is federal. However, bankruptcy laws incorporate state property law which does differ in each state. Bankruptcy law also incorporate state laws relative to exemptions which are different in each state. Finally, bankruptcy law also incorporates procedural laws which vary somewhat from court to court even sometimes within the same state.
Answer Applies to: Illinois
Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
Bankruptcy is a federal law (Title 11 U.S. Code) but applicable exemptions of property are determined, in most cases, on a state by state basis and in some jurisdictions, federal exemptions under the bankruptcy code are applicable.
Answer Applies to: Indiana
Law Office of L. Paul Zahn | Paul Zahn
Yes, because states have the option of opting out of the federal exemptions. In that respect, it is a state specific type of law, but federal laws govern most aspects of this area of law. Also, filing requirements can vary based upon median income. If you are in my area and are looking for an attorney, please contact me for a free consultation.
Answer Applies to: California
Brian Walker Law Firm, P.C. | Brian Walker
As a general rule, bankruptcy law is federal, however, the exemptions which are available for the various types of personal or real property and individual may have, may vary from state to state. For example, Washington state allows federal exemptions as well as state exemptions while Oregon allows only state exemptions. State exemptions are typically much more conservative than federal and vary significantly from state to state. Feel free to call me if you wish to discuss this further.
Answer Applies to: Washington