If moved fromone state to another 9 months ago, which state bankruptcy exemptions will apply?

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If moved fromone state to another 9 months ago, which state bankruptcy exemptions will apply?

Asked on January 2, 2012 under Bankruptcy Law, Nebraska

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

The state in which you are filing bankruptcy is the same state whose bankruptcy exemptions you would use. If you have established residency in the state where you have been living for nine months, you file bankruptcy in that state and that state's exemptions are applicable.

You have the option of either using the state exemptions or the federal exemptions in your bankruptcy.  You cannot mix them and use some state and some federal.  It has to be either only all state exemptions or only all federal exemptions.  In order to determine whether to use state or federal exemptions in your bankruptcy, select which has the larger exemptions for your particular case. 


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