If BK is federal why does which state you are in matter?

Peter Murray <petermurray@earthlink.net> wrote: If BK is federal why does which state you are in matter?

Federal law often requires use of state law as a basis
for decision. Among many examples are that state law is
sometimes used to determine who "owns" interests in property and
that state law sometimes determines what property is exempt. The
state law which is relevant is not necessarily the law of
"the state you are in."

Unfortunately, how all this sorts out in any particular situation
can get quite complicated.

Kindest regards,

Tom

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Free help for businesses, families, and individuals facing
past due debts and taxes: http://www.insolvencyhelp.org
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I never understood the wide discrepency in state BK laws and whether
the federal exemptions are avilable or not.

I can't think of any other laws that vary so much from state to state
except liquor and gambling regulations!
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Some people claim that there's a woman to blame, but I think it's all...

Richard's fault!

Visit the Sounds of the cul-de-sac at www.richardsfault.com

Because Congress, in its infinite wisdom, allows each state to choose
whether to use the "standard" federal exemptions, or set up those of its
own.

--
Brett

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* Personal Injury/Malpractice Bankruptcy *
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* BRETT WEISS, P.C. *
* Attorneys at Law *
* Maryland, D.C. and Federal Bars *
* lawyer@erols.com *
* http://www.erols.com/lawyer *
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* Small Business Estates & Estate Planning *
************************************************** ***************

The Small Print: This response is for discussion purposes only. It isn't
meant to be legal advice and you shouldn't treat it as such. If you want
legal advice, speak with a local lawyer familiar with your state's laws who
can review *all* of the facts and the law applicable to your situation.
************************************************** ***************


"Peter Murray" <petermurray@earthlink.net> wrote in message
news:OUEGb.6102$lo3.4758@newsread2.news.pas.earthl ink.net... If BK is federal why does which state you are in matter?

Peter Murray wrote:
If BK is federal why does which state you are in matter?

It may also be historical in nature. From what I understand, the Federal
government didn't have a bankruptcy law until the 19th Century. Prior to
that, it was completely a matter of state law. Apparently, like Brett said,
Congress felt in that case they did not want to supercede the provisions of
state law when the first Federal bankruptcy laws were enacted.

I have a copy of the Ohio laws from 1823 and it's interesting to see what
the laws were like back then. (Basically, debtors faced two choices: jail
or the equivalent of a Chapter 7 with very onerous provisions.)

(Now if they could only have taken that view when they enacted the anti-spam
legislation!)

J.

On Fri, 26 Dec 2003 22:25:37 GMT, John <spambegone@127.0.0.1> wrote:
: the laws were like back then. (Basically, debtors faced two choices: jail
: or the equivalent of a Chapter 7 with very onerous provisions.)
:
: (Now if they could only have taken that view when they enacted the anti-spam
: legislation!)

Jail would be inappropriately lenient. Spamming calls for drawing and
quartering or a hanging, recipient's choice.