Figuring out where you can file bankruptcy may seem like a straightforward question. For most people the state that you currently live in is where your bankruptcy will be filed. However, if you have recently moved or if you plan to move in the near future, there is more analysis involved.
Bankruptcy laws specify that a debtor’s bankruptcy petition must be filed in the state where the debtor has lived for the majority of the prior 180 days. Once you move to a new state you must live there for 91 days before you can file bankruptcy there. This also means that you could move to a new state but still file bankruptcy in your old state for up to 90 days.
The choice of where to file bankruptcy may seem like a simple decision initially but it could have a huge impact on the protection of your assets. Bankruptcy laws vary from state to state. Some states only allow debtors to use federal bankruptcy rules for protecting their property. Other states require debtors to use that state’s specific bankruptcy rules for protecting their property. Some states, including Minnesota, allow debtors to choose between using federal bankruptcy rules or state rules for protecting their property.
Please call our office at (651) 628-9929 to speak with one of our bankruptcy attorneys at a free consultation. We have many convenient locations throughout the state of Minnesota. We would be happy to meet with you in the Twin Cities, Duluth, Rochester, St. Cloud, or Mankato.