Legal Question in Bankruptcy in California

I am new to California (October 2009), how long do I need to live here before I can file bankruptcy? (Meaning, is there a waiting period... I moved here from Texas, but I had only lived there for 21 months, having previously moved there from Nevada - I was told I would either have to file in Nevada, or wait until I was in Texas another three months until I was a Texas resident.)

Please advise.


Asked on 3/25/10, 1:58 am

2 Answers from Attorneys
Mark Aalam Bankruptcy Legal Center

You will probably want to wait 2 years. Under the New Bankruptcy Law (see www.sandiego-bankruptcylaw.com/Bankruptcy-Information/New-Bankruptcy-Law.aspx), if you file bankruptcy before you have lived in California for 2 years you will not be able to use California's very generous exemption laws. Exemptions determine what you get to keep when you file bankruptcy. Before you make your decision you need to have your exemptions thoroughly analyzed by an experienced Bankruptcy Attorney that understands the New Bankruptcy Law. Amir Aalam, AALAM LAW FIRM, www.sandiego-bankruptcylaw.com (858) 461-0049

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Answered on 3/30/10, 11:41 am
Norma Duenas Southern California Law Advocates

Venue rules allow you to file for bankruptcy where you have resided for the greater part of the 180 days prior to filing for bankruptcy. In this case if you have resided in California for at least the previous 91 days then you can file for Bankruptcy in California. You may not be able to use California Bankruptcy Exemptions but a previous state exemptions or federal exemptions since you have resided in two states over the previous 2 years.

http://www.socaladvocates.com

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Answered on 3/30/10, 12:14 pm


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