Requirements for a Bankruptcy Attorney Lawyer Sevice at Ny-Bankruptcy

1. FREE CONSULTATION HOME ABOUT SERVICES LOCATIONS TESTIMONIALS BLOG FAQ’S CONTACT EMAIL OR CALL FOR A FREE CONSULTATION: 631-271-3737  WEISS@NY-BANKRUPTCY.COM OVER 30 YEARS EXPERIENCE! Residency Requirements for a Bankruptcy Case Experienced bankruptcy attorneys know how substantially bankruptcy rules and requirements can CONTACT US vary from state to state, including the available homestead exemptions, general exemptions, and the Name* income and spending requirements to qualify for Chapter 7 bankruptcy under the means test. Due to these differences, some people may wonder whether they can move to a different state briefly in order to benefit Email* from more lenient bankruptcy laws and exemptions. This is commonly called “forum shopping,” and is generally not a realistic notion due to the residency requirements for bankruptcy cases. Phone* In 2005, Congress set out to reduce the potential abuse of bankruptcy laws by passing the Bankruptcy Abuse [1] Prevention and Consumer Protection Act of 2005 (BAPCPA). Despite claiming they based the changes on “consumer protection,” the changes made by the Act are generally unfavorable for consumers and tend to Message favor businesses filing for bankruptcy instead. In addition to other restrictions for Chapter 7 eligibility, BAPCPA also set out stricter residency rules for certain aspects of bankruptcy cases. Filing the Petition I'm not a robot [2] reCAPTCHA Privacy - Terms The federal United States Bankruptcy Code governs bankruptcy cases; therefore, you must file bankruptcy petitions in federal court. However, you must determine in which federal district court you must file your petition, which depends on where you live. BAPCPA did not alter the filing residency requirements for SUBMIT bankruptcy, which are as follows: Based on the majority of the past 180 days, (i.e., 91 days) you can file in any of the following districts: Where you lived Where you keep your primary assets

2. The location of your principal place of business Under this rule, imagine that you lived in New York for years and recently moved to Connecticut. 60 days after moving, you decide to file for bankruptcy. Because you lived in New York for 120 of the past 180 days, you would need to file in the proper New York district or wait longer to file your petition in Connecticut. Where you file your petition dictates which means test threshold you can use to qualify for Chapter 7. [3] BAPCPA amended the U.S. Bankruptcy Code to require Chapter 7 filers to pass a means test based on the median income in each state. Since the median income varies widely from state to state, you may easily qualify for Chapter 7 bankruptcy in one state but not in another. If you may move to another state soon or very recently moved from a different state, you should discuss your options with a highly skilled bankruptcy Bankruptcy Quick Links lawyer who can advise of the implications of filing in each state. Strict Residency Requirements for Applicable Exemptions What Is Bankruptcy? It is critical to understand that simply because you meet the residency requirement to file in a certain state Who Can File for Bankruptcy Protection? does not automatically mean that state’s exemptions will apply to your case. This is because BAPCPA What Are the Benefits of Bankruptcy? [4] enacted significantly stricter residency requirements for the specific purpose of exemptions. Congress What Are the Alternatives to Bankruptcy? intended this to limit the number of filers who moved to new states, waited more than 91 days, and then Are There Different Types of Bankruptcy? made use of more beneficial exemption allowances. What Are the Qualifications for Bankruptcy? The law now bases your access to state exemptions on the location of your domicile for the 730 days (two years) prior to the date of your bankruptcy petition. Determining your legal domicile depends on many factors How Do I Rebuild Credit After Bankruptcy? and not necessarily on your physical presence in a particular state. Instead, domicile exists where you have a permanent home to which you intend to return. Some factors that indicate domicile include where you: When Should a Bankruptcy Case Be Filed? Own property Register to vote Register a vehicle and hold a driver’s license Primarily work Have your primary bank accounts Attend church Participate in community groups File taxes Send your children to school What Is a Chapter 7 Bankruptcy Case? What is Chapter 7 Long Island Means Testing? What Is a Chapter 13 Bankruptcy Case? What is a Chapter 11 Bankruptcy Case? New York Bankruptcy Resources

3. Imagine you own a house in one state where you have deep ties to the community, and you rent an Foreclosure Quick Links apartment in another state with more generous exemptions. You travel back and forth for two years and then file for bankruptcy in the more generous state. The court may find that you always intended to return to your What Is Foreclosure? original state and, therefore, that is your true domicile. You will then lose the benefits of the more generous What if I'm in Default and/or Threatened with Foreclosure? exemptions. Some people do not have a true continuous domicile for the two years prior to filing bankruptcy. In this What if I'm Served with a Summons & Complaint? situation, the court will look to your domicile for the 180 days (six months) prior to that two-year period. If Should I Defend the Foreclosure Action? your domicile is unclear for that period as well, you will not have access to the exemptions of any states and [5] instead, will have to apply the federal exemptions. What are Some Foreclosure Defenses? Considering available exemptions is critical prior to filing for Chapter 7 bankruptcy. Some states – like New Should I Attend Foreclosure Conferences? York – allow you to choose between the state set of exemptions and the federal set of exemptions, while What to Do in a Prolonged Foreclosure and/or if a Judgment Has Been Entered? others limit you to state law. You should always discuss with a skilled bankruptcy attorney whether the exemptions available in your case will adequately protect your property and assets, including your home, car, financial accounts, inheritance, and more. If you have too much property that will be vulnerable to liquidation, What to Do if There's Notice of a Foreclosure Sale? you may want to discuss the possible pros and cons of filing for Chapter 13 bankruptcy instead of Chapter 7. When BAPCPA made sweeping changes to consumer bankruptcy laws, it served as a reminder that What if My Home Was Already Sold in a Sale? bankruptcy restrictions and opportunities can be ever-changing. It is essential that you speak with a lawyer who stays fully apprised of all current requirements, means test threshold, exemption amounts, and more, so they can properly advise you of all possible implications of a bankruptcy case. Consult with an Experienced Nassau County Bankruptcy Lawyer about Your Options Today Modification Quick Links At the Law Office of Ronald D. Weiss, we regularly see how bankruptcy can provide life-changing debt relief for our clients. We carefully evaluate your situation in order to provide the best possible advice regarding whether What Is a Mortgage Modification? bankruptcy – and what type of bankruptcy – is right for you. With decades of experience handling Chapter 7, How to Obtain a Mortgage Modification? 11, and 13 bankruptcy cases throughout Suffolk County and Nassau County, you can trust you will receive What to Do if Denied/Approved for a Modification? the highest quality of legal assistance. Call 631-271-3737 or contact us online today. [1] https://www.justice.gov/sites/default/files/usao/legacy/2006/09/07/usab5404.pdf What if My Lender is Being Overly Difficult? [2] U.S. Code: Title 11 [3] 11 U.S. Code § 707(b) What Are Options Besides Mortgage Modification?

4. [4] 11 U.S.C. Code § 522(b)(3) Can We Help with Modifications & Negotiations? [5] 11 U.S.C. Code § 522 Debt Negotiations Quick Links What are Foreclosure Non-retention Options? What are Foreclosure Retention Options? What are Credit Card Negotiations and Settlements? What are Business Negotiations and Settlements? What are Landlord Negotiations and Settlements? What are Tax Debt Negotiations and Settlements? What are Student Loan Negotiations and Settlements? What are Medical Debt Negotiations and Settlements? What is Credit Repair? FREE CONSULTATION Evening Appointments Available 631.271.3737

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