Do bankruptcy laws vary from state to state?

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Do bankruptcy laws vary from state to state? | The Golden Law Group | Helping Residents & Businesses Get Financial Stability | (813) 413-8700 | | 808 Oakfield Drive, Ste A, Brandon, Florida 33511 | 9040 Town Center Pkwy, Bradenton, Florida 34202

Bankruptcy is a federal statute, so generally speaking, bankruptcy laws do not vary from state to state. However, what does vary is what you are allowed to keep when you file bankruptcy. Some states have opted out of the federal exemption schedules. Florida’s one of those states. When you file bankruptcy in the state of Florida you generally use Florida exemptions. That is what makes the bankruptcy laws different from state to state.

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