Bankruptcy code is considered what type of law?

The bankruptcy code is classified as federal law because it is governed by the United States Constitution and federal statutes. This means that bankruptcy cases are handled in federal courts rather than state courts. The federal bankruptcy code provides a uniform legal framework for individuals and businesses seeking to restructure or eliminate their debts, ensuring that the process is consistent across all states. The federal nature of bankruptcy law is important for establishing equal treatment of creditors and providing a standardized procedure that can be applied nationwide, regardless of state-specific laws or regulations. The uniformity helps to prevent various states from creating conflicting laws that could complicate the bankruptcy process.