Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
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Question: We moved to AZ due to our health problems 2 years ago. Because of market problems we cannot sell our home in CO. We need to consider filing for Chapter 7 BK. Do we file in AZ or in CO?
Response: You need to file in Arizona, where you have resided for the past two years. Then list the property you have in Colorado in your bankruptcy petition. Under 28 U.S.C. Section 1408, a debtor may commence a bankruptcy case in any federal judicial district in which the domicile, residence, principal place of business, or principal assets of the debtor have located for 180 days prior to the bankruptcy petition, or for a longer portion of that 180 days than any other district.
Do we get to keept the home in Colorado?
Is the mortgage on the house current?