Q: Can I claim federal exemptions in chapter 7 bankruptcy?
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.
A: I would recommend getting an attorney to help you with your bankruptcy. There are many good lawyers in North Carolina. To answer your questions, though, Vermont exemptions would be applicable under 11 USC 522. My research shows that Vermont does allow nonresidents to use their exemptions but it also permits non residents to use federal exemptions. You will have the option to chose federal or Vermont exemptions. Once you are in NC for 2 years, though, you are required to use their exemptions.
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