Planning on filing bk7 in the next month or so. I have been reading and researching as much as possible before attaining an atty. This forum has been so helpful! I'm still not certain on what states exemptions we will be using. We have lived in Maryland for the past eight months. Prior to that lived in Virginia for eleven months. Then prior to that lived in Idaho for seven years. I have read you have to be a resident for 40 months to use your current states exemptions. So would we use Virginia or would it fall back on Idaho?
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I think you only have to live in your current state 2 yrs-but that doesn't apply to your case. I think you will need to use Idaho (see below)
he state you use for your exemptions is:
* The state you lived in for the 730 days (2 years) before filing; or
* If you did not live in a single state in the previous 2 years you use the state where you lived the majority of the 180 day period preceding the 2 year period; or
* If the preceding renders you ineligible for any exemptions then the debtor is allowed to choose the federal exemptions.
My interpretation of the bold type is Idaho. -
Thanks daylate. That was what I was thinking....that it would fall back on Idaho.
Do I go by my current states median income or Idaho's?Comment
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I think you use where you currently live for median inc.Comment
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