Since the United States was founded there has been a fascinating relationship between state and federal laws. With the attempt to limit federal overreach, each state was allowed to keep certain functions of their own operation. The core idea behind this was to prevent the notion of “big government.” What has happened in recent years is that there have been several new legal concepts that have had trouble successfully adapting to this model of state vs. federal model. A classic example of a body of law that greatly differs between state and federal is Bankruptcy Law. A Basic Understanding of Bankruptcy Law For individuals, there are two routes to pursue when they are filing for Bankruptcy. One is Chapter 7 and one is Chapter 13. An individual should absolutely know the differences between these two types of Bankruptcy Laws in order to choose the best option specific to their individual circumstances....
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