Your petition state for bankruptcy is the state in which you have resided for the preceding three months. For instance, if you have lived in Illinois for the past three months, you cannot file a Missouri chapter 7 petition. You must file in Missouri. If you've moved within the past 90 days, you can file for bankruptcy in the state where you've resided for at least 91 days. Yes, it can be determined by the day.
It is easy to believe that there is a method to exploit the system or a state to file in where you will have greater success, which brings us to the question of where to file. Although neither state is necessarily a superior place to file for bankruptcy, there are significant differences between them. The trustee, exemptions, and local court regulations are the primary differences between bankruptcy filings in Missouri and Illinois.
It is essential to note, however, that the district-specific rules are intended to assist you. In the end, they are intended for individuals within your jurisdiction. In the end, it is preferable to file where you are required to submit. In addition to risking an objection from the Trustee, filing in the incorrect state could jeopardize your own financial future. It is not worthwhile to attempt to manipulate the system.
If you are unsure of whether to file for bankruptcy in Missouri or Illinois, the best place to start is with an experienced St. Louis bankruptcy lawyer. Look for an attorney who is familiar with the trustees on both sides of the river, as well as the applicable rules and exemptions. By beginning your bankruptcy filing with an excellent attorney, you give yourself the greatest chance of success regardless of the state in which you file. He or she should be able to provide you with the necessary protection from foreclosure, credit card debt assistance, and creditor relief while utilizing exemptions and local regulations to safeguard your property and family.""
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