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Not California law
- Bankruptcy is governed by federal law, not California law.
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Bankruptcy is governed by federal law, not California law. This guide provides basic information and resources, but there are no specific California state forms and you don't file with your county court, as you might for other legal matters.
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Oct 2, 2023 · Bankruptcy is governed by federal law, but California law will also affect your case. California has two exemption systems that can be used to protect real and personal property. California bankruptcy filers cannot use federal exemptions.
Bankruptcy and California Statutory Law Exemptions. California has opted out of the federal exemptions, so the exemptions in 11 U.S.C. § 522(d) do not apply even in a bankruptcy commenced in California. Exemptions are creatures of statute.
Bankruptcy is a set of federal laws and rules that can help individuals and businesses who owe more debt than they can pay. Each of the 94 federal judicial districts handles bankruptcy matters, and in almost all districts, bankruptcy cases are filed in the bankruptcy court.
Jan 22, 2024 · Bankruptcy is governed by federal law, not California law. This guide provides basic information and resources, but there are no specific California state forms and you don't file with your county court, as you might for other legal matters.
Laws of both Chapter 7 and Chapter 13 Bankruptcy involve individuals. However, there are fundamental differences between the two, as discussed below. Chapter 7 Bankruptcy also denoted as Liquidation Bankruptcy, allows the debtor to wipe out various debts and make a fresh start.
We will explain the California new bankruptcy laws, identify exemptions, and address any questions and concerns you have. To arrange an appointment, call us at (213) 344-0043 and speak to our Los Angeles bankruptcy attorneys.
