Expert: Terry Leeders - 2/23/2009

Question
I currently live and work in California but own a home in Indiana that has little equity, my question is should I file Chap 7 in California or wait and File when I move to my home in Indiana in a few months?  Is there an advantage to fileing in what state over another?  I have very little assets and $60K in unsecured debt.

Answer
you would have to file in California for now.  You would have to establish jurisdiction in Indiana.  You should also talk to a local bankruptcy attorney to determine which state's exemptions would apply, depending on when /where you file.

Exemptions and domicile per bankruptcy code:
(A) subject to subsections (o) and (p), any property that is exempt under Federal law, other than subsection (d) of this section, or State or local law that is applicable on the date of the filing of the petition at the place in which the debtor's domicile has been located for the  730 days immediately preceding the date of the filing of the petition  or if the debtor's domicile has not been located at a single State for such 730-day period, the place in which the debtor's domicile was located for 180 days immediately preceding the 730-day period or for a longer portion of such 180-day period than in any other place;