How long do you have to been a resident ofa statebefore you can file bankruptcy there?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
How long do you have to been a resident ofa statebefore you can file bankruptcy there?
Asked on March 17, 2011 under Bankruptcy Law, Georgia
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
You can file for bankruptcy in GA as soon as you become a resident. However, certain property is "exempt" (cannot be taken) when a bankruptcy is filed. Under federal law there is a list of such exemptions; additionally some states have their own list of exemptions and the debtor can decide which list they wish to use. Although, in order to use a state's exemptions, you must have lived in the state for 2 years. If you have lived there for less than 2 years, you count back 2 years from the date you file for bankruptcy and then look at where you lived for the 180 days (6 months) before that. Whichever state you lived in for the longest time during that 6-month period is the state that controls which exemptions you can use.
Note: However, some states don’t allow you to use their exemptions unless you currently live in that state. If you get caught in this gap, you’ll have to use the federal exemptions.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.