I am seling a mobile home in Florida and moving out of state. Its not worth much and am using the proceeds for moving expenses and money to live on until we can find new jobs. How long do I have to wait to file bankruptcy before these proceeds will not be taken into consideration?
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If you don't have the money and didn't transfer funds to insiders, the only concern is the residency requirement in your new state.
If the bk is no asset, you'll file where you spent the majority of the prior 180 days. -
I thought I read somewhere that once you moved out of Florida you could no longer use Floridas exemptions, so unless I waited a period of time I would have to use federal, is there a point in time the sale of the house wouldnt be a consideration or would the proceeds be exempt if I could show the money was used for relocation purposes? The economy is driving us out of Fl, my husband works on commission and there is little money coming in and no health insurance is a major issue as I need medical attention,,,just dont know what the best move is for us???????????????Comment
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If the money is spent, it has no bearing on the bk. Just keep receipts more to prove the money wasn't transfered to an insider than anythiing else.Originally posted by skatermom View Post
You can file in your new state once you meet the rule of spending the majority of the prior 180 days on that new state but, you'd have to be a resident of that state for 2 years to use the new states exemptions. Otherwise, Fl. exemptions apply. Where the option of using Federal exemptions comes into play is if you have a situation where you meet neither the new state or previous states residency requirements. That would be rare and I'm not sure what would trigger it.Comment
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