Can a resident of one state file for bankrupsy in another?
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Can a resident of one state file for bankrupsy in another?
I am a military contractor and travel all over the world for work. I am currently working in out of state and have a contract for another 14 months.
Asked on July 31, 2012 under Bankruptcy Law, Colorado
Answers:
Terence Fenelon / Law Offices of Terence Fenelon
Answered 12 years ago | Contributor
Bankruptcy residency is stated forth in the Code and is usually interpreted to be where you have resided for the last 180 days, of the greater portion of the last 180 days than any where else ( 91 day?)
The question becomes the utilization of exemption statutues. Some states will only honor state exemptions if you are in residency for at least a year. What is your mailing address? Where do you vote? What drivers license do you use. Where are your utilitiy bills sent to? Those are some of the considerations which the Court may look at.
Exemptions provide the opportunity to protect various types of property from liqudation (sale) by the bankruptcy trustee.
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