Consumer Laws by State
No matter what state you live in, bankruptcy is governed by chapters of the U.S. Bankruptcy Code. You can file for Chapter 7 bankruptcy protection and see debt relief in as little as a few months, or enter a Chapter 13 repayment plan that lets you pay back your creditors at a lower rate over a period of three to five years. However, depending on what state you file bankruptcy in and where you’ve lived for the past few years, you may experience bankruptcy differently than the person living the next state over. One of the main differences is related to bankruptcy exemptions, which vary by state. Exemptions allow you to keep your property, like your house, car, and more, with some states having more generous exemptions than others. Other states require you to use their exemptions only, with no choice of using federal exemptions, when filing for bankruptcy. National Bankruptcy Forum has compiled information on consumer laws by state so readers can get a basic overview of how bankruptcy works from California to Florida.
Chapter 7 Bankruptcy in Kentucky: What You Need to Know
Last updated Sept. 15, 2017. Just south of the Mason-Dixon line, Kentucky is famous for the venerable Kentucky Derby thoroughbred horse race, which began in 1875. Far more than a horse race, the Kentucky Derby is a see and be-seen social event that is always held at Churchill Downs in Louisville the first Saturday in…
Read moreChapter 7 Bankruptcy in Kansas: What You Need to Know
Located in the country’s Great Plains heartland, Kansas is a state rich in history. The land that eventually was to become Kansas was part of the Louisiana Purchase in 1803, but it took almost 60 years for Kansas to achieve statehood, just a few months before the outbreak of the Civil War. Most people think…
Read moreChapter 7 Bankruptcy in Iowa: What You Need to Know
Known most across the nation for the Iowa caucuses that launch the presidential nominating process every four years, the world-renowned Iowa State Fair, and being the future birthplace of Captain James T. Kirk, Iowa’s robust economy often comes as a surprise to people. Unsurprisingly, Iowa is number one in the nation in producing eggs, corn,…
Read moreChapter 7 Bankruptcy in Indiana: What You Need to Know
If you don’t live in or near Indiana, you may only have a vague picture of a state with miles of farmland that hosts the annual Indianapolis 500 auto race. In fact, Indiana is filled with attractions and boasts diverse industries. A discussion of Indiana’s charms would not be complete without a mention of Brown…
Read moreChapter 7 Bankruptcy in Idaho: What You Need to Know
Idaho is a dreamland for those who love the outdoors. It offers the most whitewater river miles in the lower 48 states, and more than 21 million miles of forest and public lands. It’s a destination for those who enjoy skiing in well-known resorts such as Sun Valley. However, Idaho ranks only 47th in the United…
Read moreChapter 7 Bankruptcy in Hawaii: What You Need to Know
Hawaii is famous for being a tropical paradise. The only state in the United States made up entirely of islands, Hawaii is home to lush green rainforests, scenic beaches, and active volcanoes that attract tourists from the continental U.S. and around the world. However, not all is as sunny in the Aloha State as its…
Read more