I just moved to Minnesota! – Can I Still File Bankruptcy?
Are you moving to Minnesota for a new start? You’re not the only one! Who can resist the beautiful nature, the friendly people, or the lack of sales tax on clothes?
Moving is usually a great way to dust off the cobwebs and get a fresh, clean slate. It can be difficult to move when you have debt hanging over your head. Debts (and creditors), whether they are credit card debts, medical debts, or old rent, will find you no matter where you go. I know what you will say – “But, I just moved here!” Can I even file?”
It depends! You must have lived in Minnesota continuously for 90 days to be eligible to file bankruptcy.
“So, once I reach 90 days I can file?”
Yes. Sort of.
There’s a nuance to this. You can file in Minnesota within 90 days but you may not be eligible to use Minnesota state exempts to protect your property, if you have just moved here. We have to look at where you lived in the past two years to determine what exemptions you are eligible for. Each state differs on whether it lets nonresidents use its exemptions.
Here are a few common states we see:
Wisconsin:
Former Wisconsin residents do not have to use Wisconsin exemptions. They are allowed to use either Federal exemptions or Minnesota exemptions, whichever suits their case best.
California: California requires nonresidents to use California exemptions if they lived in the state within the last two years. The good news is that California’s exemptions are much more generous than Minnesota’s!
Michigan: Michigan allows former residents to use either Michigan state exemptions or federal exemptions.
North Dakota: North Dakota allows former residents to use some of their exemptions but generally requires federal exemptions.
Call Now For A Free Strategy Session With A MN Bankruptcy Lawyer
Don’t see your state listed here, or want to talk in more detail about bankruptcy options? Contact LifeBack Law Firm. Let Minnesota take care of you now that you have decided to call Minnesota home! LifeBack Law Firm is here to make the process as easy and stress-free as possible. When the time is right, or when you are ready to get your life back, reach out to Minnesota’s most kind and helpful bankruptcy law firm by going now to
www.lifebacklaw.com
.https://www.youtube.com/watch?v=BoWtmJI1S4Q
