Bankruptcy FAQs Bankruptcy Courts

What Is Bankruptcy?

Bankruptcy is a process under U.S. federal law whereby individuals and businesses are given the opportunity to reorganize and/or discharge their debts and to have a fresh start. Generally speaking, the filing party agrees to give up some or all of his, hers or its nonexempt assets in exchange for the court discharging some or all of the debtor's nonexempt debt.

Is Bankruptcy Federal Or State?

The Bankruptcy Court is a division of the federal court system, and the general rules governing the court are federal law. However, the specific rules relating to exemptions are governed by state laws, which vary from state to state.

Where Is South Florida's Bankruptcy Court?

South Florida has 3 Bankruptcy Courts -
Miami Federal Courthouse (51 SW 1st Avenue, Miami, FL 33130), which services Miami-Dade and Monroe counties,
Fort Lauderdale Federal Courthouse (299 E. Broward Blvd., Fort Lauderdale, FL 33301), which services Broward County, and
Palm Beach Federal Courthouse (1515 N. Flagler Drive, West Palm Beach, FL 33401), which services Palm Beach, Martin, St. Lucie and Indian River counties