QUESTION

What are the requirements to go bankrupt?

Asked on Jun 26th, 2013 on Bankruptcy - Idaho
More details to this question:
I live in Florida for work. I moved from Illinois. Most of my debts are from IL which include foreclosures, credit cards, sales tax, property taxes, medical bills etc.
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4 ANSWERS

You can file for bankruptcy in Florida but preferably after 180 days of living there but Illinois exemption law will still apply to your bankruptcy case.
Answered on Jul 01st, 2013 at 3:59 PM

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If you consider yourself a resident of Florida now, if you have been in Florida for more than 91 days, you should file in Florida. If you still maintain a home in Illinois and consider yourself a resident in Illinois, then you should file bankruptcy in Illinois. Either way, unless you have been a resident of Florida for more than two years, you must use the Illinois exemptions for your bankruptcy The qualifications to be eligible to file bankruptcy require a complete analysis of your finances covering the past 6 months. Get an experienced bankruptcy attorney to represent you!
Answered on Jun 26th, 2013 at 10:49 AM

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You can go to the web site for the district of the bankruptcy court where you live. Then you can look up the requirements for filing.
Answered on Jun 26th, 2013 at 10:32 AM

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The threshold for filing bankruptcy is fairly low. The question really becomes the type of bankruptcy. Visit with an attorney in your jurisdiction. One or more of the debts you list may not be dischargeable.
Answered on Jun 26th, 2013 at 10:02 AM

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