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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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Hello; which state is better to file for BK, is it CAlifornia,

Resolved Question:

Hello;

which state is better to file for BK, is it CAlifornia, or FLorida.

PLease Advise
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 1 year ago.

cfortunato :

Hi - my name is XXXXX XXXXX X'X a Bankruptcy attorney here to assist you.

cfortunato :

What matters is the type and value of the debtor's assets.

cfortunato :

In general, if the debtor has a home that has substantial equity (more than $75, 000 - $100,000), then Florida exemptions would be more benefial.

Customer:

I got got serveved with a lawsuit in CA ,for a breach of Zcontract, and I have a case in the court of appeal in TX

Customer:

Since I can't flight it, the attorney suggested to file a BK,

Customer:

I do not own a home

cfortunato :

Your Bankruptcy has to be filed in the state where you live.

Customer:

but some said in Florida they said it is better

Customer:

I will be living in Florida in few days

cfortunato :

And you have to use the exemptions from the state where you have lived for the 2 years before filing a Bankruptcy.

cfortunato :

Have you lived in CA continuously for the past 2 years?

Customer:

I'm OK with that

Customer:

no

cfortunato :

Where have you lived for the past 2 1/2 years?

Customer:

The whole idea is start clean I'm getting whipped out from fighting the law suite in TX and now I have one i CA

Customer:

IN CA , TX

cfortunato :

Then you would have to use CA or TX exemptions.

Customer:

I see

cfortunato :

You would not be allowed to use FL exemptions. But this is good for you, since you do not own a home.

Customer:

That is good to know

cfortunato :

If you do not own a home, CA and TX exemptions are more beneficial than FL exemptions.

cfortunato :

This is because FL exemptions protect one's home, but not much else.

Customer:

The whole idea is to make it difficult to any of the lawsuit compnay to object on the BK

Customer:

and My atgorny suggested to file in FL

cfortunato :

It does not matter where you file. What matters is the state's exemptions that you have to apply.

cfortunato :

Bankruptcy laws are the same in all states, but each state have different exemptions.

cfortunato :

So, it does not matter what state you file in.

cfortunato :

However, you cannot file in any state until you have lived in that state for at least 90 days.

Customer:

when it come to objecting on the BK , they have to show up to the meeting is that correct

Customer:

and the attorney in TX said file it some where tso you can make it difficult for them to show up

cfortunato :

Yes - the person or company or their attorney must show up at the Bankruptcy court to object to a discharge of the claim.

Customer:

I Think filling in FL would make it difficult to the Tx compnay or the CA company to show up to Florida

cfortunato :

The person or company can only object if their claim is based on fraud.

Customer:

one of the cases in misrepresenation

Customer:

and the other one is Realestate transaction on with the appeal court

Customer:

as I said I just got served I there is no judgment

Customer:

the Tx has not been finalized

cfortunato :

Debts based on fraud or based on "false pretenses" are not dischargeable. If you include those debts, they would be discharged unless the creditor showed up and filed a motion to have the debt(s) determined to be non-dischargeable.

cfortunato :

Because that is the only way the Bankruptcy court will know the debts were based on fraud or false pretenses.

Customer:

I see

Customer:

is based on there is a judgment ? as I said there is no judgment yet, I just got served with the case

cfortunato :

Obviously, it will be harder for those creditors to file a motion in a FL Bankruptcy court than in a CA or TX Bankruptcy court.

Customer:

alledging wrong doing with misrepresenting the facts

Customer:

thank you so much for your time

cfortunato :

If you file a Bankruptcy before there is a judgment, the Bankruptcy will prevent them from getting a judgment.

Customer:

that is the whole idea

cfortunato :

There does not have to be a judgment to have a claim discharged.

Customer:

thank you so much

cfortunato :

You're welcome.

cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience: Bankruptcy professor.
cfortunato and 4 other Bankruptcy Law Specialists are ready to help you

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