I had my consultation with my laywer a few weeks ago and she told me since I haven't lived in the state I currently reside in for two years she would have to go under my previous state(Missouri). I did the means test online and I fall below the median income for Missouri. Can anyone tell me how true this because I would really like to file CH7 vice CH13. TIA!
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If you've moved recently, you have to live in your new State for 2 years prior to filing to use that State's Exemptions. Less than 2 years, you use your previous State of residence Exemptions.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen... -
DISCLAIMER: I am not an attorney. My posts are not legal advice. They are for information only. Please feel free to use them in an academic sense, as I simply wish to share with you what I have learned/researched.Comment
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I am recently married and am considering filing for BK. My wife has lived in the state for over 2 years, but me just one year. How would that work? Would she need to file BK as well even though the debts are under my name for me to get the exemptions in the state we currently live in?Comment
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Since you've lived in the New State less than 2 years, you cannot qualify for the New State's Exemptions. It's part of the New Law. You HAVE to be a resident of a State for 2 years to use that State's Exemptions.
Under Old Law, people would flee to Debtor friendly states like Texas and Florida. Once they established official residency in the New State, they would file BK. This part of the Code under the New Law was specifically enacted to prevent that from happening.
You can file alone, by yourself, if all the debt is in your name and not affect your wife or her credit in any way. Wife's income would be listed at the start and then deducted out later as part of the Marital Adjustment.
You get to use the New State's income Median and costs of living. You just have to use your Old State's Exemptions when it comes to what assets you can and cannot protect.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...Comment
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So what would happen if we both filed, which exemptions would be applied in that case? Thanks.Comment
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You'd have to ask an attny.
I don't know if you can file Joint, or if you'd each have to file seperately.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...Comment
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