Q: Can I claim federal exemptions for upcoming chapter 7 bankruptcy filing?
I have lived in Charlotte NC for 22 months and plan to file in western district of North Caroline. Prior to Charlotte I lived in Vermont for 40 years. Vermont doesn't allow non-residents to use their bankruptcy exemptions.
The Bankruptcy Code provides that you are eligible to file in the federal district in which you have resided, or where your principal assets are located, for six months prior to filing.
It appears that No. Carolina requires a debtor to use its state-prescribed exemptions. You can google No. Carolina exempt property to find a list and exempt values.
Using a No. Carolina bankruptcy lawyer to guide you through the process is strongly recommended.
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