I own a California business, do I file under federal or California bankruptcy law?

In the state of California, bankruptcy provisions mostly consist of federal bankruptcy law, but California bankruptcy law does exist. There are a few rules and laws which are specified on a state level, and the provisions in a particular state will override federal bankruptcy law on those issues. Knowing what provisions may apply in your bankruptcy case is a matter of speaking with a qualified lawyer in your area.

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California Bankruptcy Exemptions’ System 2

California is the one state in the country that has not only opted out of the federal bankruptcy exemptions, but has also created an alternate set of exemptions of its own, similar to the federal but not the same. These are California Exemptions’System 2.

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