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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 18385
Experience:  B.A.; M.B.A.; J.D.
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I want to file bankruptcy but do not live in the state where

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I want to file bankruptcy but do not live in the state where we own our home, which is paid for. (Our daughter lives there but does not pay rent.) We moved to another state for work and my husband became disabled but I stayed on my job there. The home is in Texas and we rent in Georgia. How would this effect a filing of bankruptcy.
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I want to file bankruptcy but do not live in the state where we own our home, which is paid for. (Our daughter lives there but does not pay rent.) We moved to another state for work and my husband became disabled but I stayed on my job there. The home is in Texas and we rent in Georgia. How would this effect a filing of bankruptcy.



Response: You can still file in Texas if majority of your assets are still in Texas. 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. If you file in Georgia, you have to claim Georgia exemptions, which would result in your losing most of the equity in your home because Georgia only allows a maximum of $43,000.00 for homestead while in Texas homestead is unlimited. See OCGA §44-13-100(a)(1). Also see Texas Constitution Articl 16 Sections 50, and 51; Texas Property Code Sections 41.001 and 41.002.

Customer: replied 3 years ago.

I don't have a legal bent so I don't understand the legalese. To clarify; we have lived in Georgia since 2007. How does that effect the potential for bankruptcy, and CAN I file on Texas if still living in Georgia. The assets we have are our home and my husbands small 401K. Wouldn't our 'principle place of business' be where I work, which is Georgia?

I don't have a legal bent so I don't understand the legalese. To clarify; we have lived in Georgia since 2007. How does that effect the potential for bankruptcy, and CAN I file on Texas if still living in Georgia. The assets we have are our home and my husbands small 401K. Wouldn't our 'principle place of business' be where I work, which is Georgia?


Response
: You can file for bankruptcy protection in Texas since your home, your primary asset is in Texas.
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