Are bankruptcy laws the same in all states?

Answer The U.S Bankruptcy codes are the same for all states and are federal laws that are tried in federal courts and not state courts. However, there are several regulations that come from state specific... Read More »

Top Q&A For: Are bankruptcy laws the same in all states

MD Bankruptcy Laws?

Bankruptcy laws in Maryland provide consumers with the opportunity to eliminate their debt, while becoming more educated on the credit accumulation process and how to make smarter decisions with lo... Read More »

Can states declare bankruptcy?

States cannot file bankruptcy under any chapter of bankruptcy law. Chapter 9 only allows towns and cities to file, according to Slate Magazine. When a state cannot pay its bills, it goes into "rece... Read More »

Bankruptcy Laws in India?

Created to assist individuals and businesses when their finances become unsustainable, bankruptcy laws exist in many countries across the world, including India. Since 1874, bankruptcy laws have ex... Read More »

What is chapter 7 in the bankruptcy laws?

Bankruptcy is a last-resort option for individuals and businesses that have too much debt to control. One type, chapter 7, involves near-complete liquidation of the petitioner's assets in order to ... Read More »