Confusing question

[mangoman39]

OK, so I've been reading through these forums like crazy, gathering up every bit of information I can, and I appreciate everything that everyone has written in these forums. It is truly a great resource. here is my question. I live in Florida. I have lived here less than 2 years. According to the new laws, and please correct me if I'm wrong, since I have lived in this state for less than 2 years I file with the exemptions of the state that I lived in for 91+ of the 180 days prior to the 2 years. OK, so that would be Pennsylvania where I lived my entire life up until moving to Florida. Now I look at the exemptions and see that there is only a $300 exemption for personal property. That's not even a weeks worth of clothing that I need for my work. Major problem. Now in Pennsylvania you also have the choice of using the federal exemptions. So that is my question. Since I would be filing under Pennsylvania exemptions, do I have to go by the state exemptions or do I have the choice of using the federal exemptions. I know this was a pretty confusing question, and I actually have doubts that anyone in here knows the answer since I really haven't seen many post Oct 17 posts, but anything that anyone could provide in terms of an answer would be fantastic.

[skincomplicity]

Um, if you have lived in FL the past almost 2 years ,you should be using FL exemption!? 180 days prior to filing?? Someone correct me.

[AAAArt]

I think that shoould read (or mean) "the state where you lived 91 of the last 180 days before yoou filed".
Example, you lived in PA most all fo your life, decided to file Bk and found out that PA was more liberal w/ exemptions than FL. so you moved back in w/ a friend or relative for 2 weeks, so that you could claim residence in the state which is more liberal. (I realize that FL is more liberal than PA, but tried to make the example fit where you had lived.) Art

[mangoman39]

No no, you are both wrong. Read the new law. You file the exemptions for the state that you have lived in the past two years. If you have lived in more than one state in that time, you file the exemptions for the state that you lived in for 91 or more of the 180 days prior to that two years. Trust me, Pennsylvania's exemptions are AWFUL. $300 of personal property....no mention whatsoever of a car. Florida doesn't let you keep much, but it's a lot more than in Pennsylvania.

[StaciMM]

Mangoman-you're right. Its just that most people here filed under the old and so they're familiar with the way it was...

Since you were in PA for 91+ days then, you choose PA or Fed exemptions. Looking at PA's exemptions, my guess is that practically everyone to file BK in PA uses the Fed exemptions! Man-they're stingy in PA!

The new 2 year law is to keep someone from moving in order to take advantage of better exemptions. Under the new law, if you have NOT lived in your current state for 2 years, you look to where you lived 91+ days out of the 180 before those 2 years. If you don't have 91 days in one state, you use Fed. exemptions.

[StaciMM]

PS-I think PA and was just being lazy on creating their exemptions list, but figured that they had to say more than just 'see Federal list'.

[mangoman39]

I just hope that you are correct that I can use the federal exemptions. If I would be forced use the actual PA exemptions I would be left with NOTHING. So my only other choice would be to file for Ch 13. But I really don't want to do that. Right now my payment would be about $100 a month. Not bad. But I expect a promotion and raise within the next year and that would jack my disposable income up to nearly $1000 a month. I know I'd be left with about the same to live on as under the $100 plan, but man, I finally do something good with my career and would have nothing to show for it. I know I got myself into the situation if that's the case, but man that would suck.

[mangoman39]

Is there anyone else out there that can at least say that they are close to positive that I would be able to use the federal exemptions for my CH7? I don't have my consultation with my atorney until next week and if I know that I will be able to file federal, I may stop stressing out quite so much.

[StaciMM]

My answer was from reading the new BK laws and it seemed pretty clear.

One question though-how long have you been in FL and do you have any reason to file ASAP? If not, and you're close to 2 years, perhaps wait?

Is there anyone else out there that can at least say that they are close to positive that I would be able to use the federal exemptions for my CH7? I don't have my consultation with my atorney until next week and if I know that I will be able to file federal, I may stop stressing out quite so much.

[mangoman39]

My 2 years wouldn't be until April of this coming year. I suppose I don't NEED to file ASAP but I'm getting sick of the phone calls and I want to start reestablishing my credit as soon as I can. Besides, if I can use the federal exemptions, they are MUCH better than Florida as well. Florida allows $1000 for a car and $1000 in personal property. Federal exemptions allow $3000 for a car and a LOT more for personal property.

[mangoman39]

DUH, yes I must do it ASAP. As I stated in a previous post, there is a very good chance that I will be getting a promotion at work in the somewhat near future. If I wait, and I get that promotion, I will no longer qualify for CH 7. My income will be too high

[mangoman39]

Well, finally went out and read the exact law regarding my inquiry here. It looks like I will definitely be able to file under the federal exemptions. Thank god. The Florida exemptions were bad, and the PA exemptions were atrocious. I believe I won't have to give up anything to the courts now. Can't wait til my consult with my attorney to verify all this.

[skincomplicity]

eww at the new laws!! Thanks Stacy for jumpN in ! And great for you ,mangoman!

[FoolAndHisMoney]

Not sure of the answer regarding ALL exemptions but the big change is pretty much the Homestead exemption. You can use 125k homestead if you moved.

The one that always comes to mind is OJ the killer Simpson. That big doofus sold his Brentwood Calf home with a smaller exemption, moved it to Fla. and when he got the wrongfull death judgement they couldn't touch his multi million dollar house since it's exempt under Fla.

These days are gone. This is a plus in the new code since it won't have any affect on the struggling honest debtors and will stop frauds and thugs like OJ from doing this.