Move to state with higher median income

[tomjones]

Is it possible to move to a state with a higher median income?

Thanks

[LostOne0069]

LOL,

Well, the obvious answer to your question is; Yes. You can move wherever you want to.

I'm thinking though that your question is really, "Can I move to a state with a higher median income AND use that median income for the means test when I file bankruptcy?"

The answer to this is also "Yes". I think you have to live in the new state for 90 days before doing so, and for 2.5 YEARS before you can use the new state's exemptions.

I did this very thing... I moved from Hell... er.... Utah to New Jersey back in November. I make $90k per year... which in Utah was WAY above the median income (granted... I didn't make $90k when I actually lived IN Utah, but that's a different story.) In New Jersey, the median income for a family our size (4 kids) is $104k... so we're considerably below the median here.

We do, however, have to use Utah's exemptions... which SUCK.

[AAAArt]

Good answer. I knew about the 90 days, but I filed under the old law. Wasn't aware of the 2 1/2 year residency requirement, but sounds likely.

[anonymuse]

I hear it's really cheap to live in Mexico. ;)