Are there exemptions under state laws?

Yes, while most of bankruptcy law is federal, there are state-law aspects to bankruptcy as well. An example is that some states have specific exemptions that might provide greater protection for consumers. For example, some states have greater homestead exemptions than the $20,200 provided for under federal law. Florida and several other states have no limit on homestead exemptions, meaning that consumers in those states get to keep their homes free and clear.