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I Just Moved to Kentucky – Can I File Bankruptcy Here?

Moving To a New State

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Moving can be an adventure, especially when moving to another state. At Lawrence & Associates, a Kenton County Kentucky bankruptcy law firm, we have had many clients move to Kentucky only to find their financial fortunes have changed. Sometimes, clients move to Kentucky for a job that winds up being too good to be true. Other clients relocate from Cincinnati to Northern Kentucky in the middle of a major life event, such as divorce. Whatever the reason, moving to a new state can present financial challenges and sometimes those financial challenges lead to bankruptcyIf you are new Kentucky and are thinking of filing bankruptcy, you may be a little confused about where you should file. Is it better to file in Kentucky, or better to file in the state you just moved from? 

Have You Lived in Kentucky for More Than Six Months?

You must live in Kentucky for at least six months to be eligible to file bankruptcy here. If you’ve lived here less than six months, don’t worry – preparing to file a bankruptcy often takes a month or two all by itself, and the dates are all measured from when you actually file (not from when you first think about filing). There is an exception to this rule, but it only applies if you haven’t lived in any state for six months or more over the course of the last nine months.  If you’ve lived in Kentucky for six months, you have to file bankruptcy in Kentucky!

If You Haven’t Lived in a New State for 6 Months, Where Do You Have a Better Chance of Filing the Kind of Bankruptcy You Want?

Although bankruptcy laws are federal, different parts of the country have slightly different rules relating to (for example) the way you can protect your assets from the trustee or the amount you have to pay monthly in a Chapter 13 bankruptcy. Even relatively short distances – such as moving from Cincinnati to Northern Kentucky or vice versa – can have big consequences! If you are in a grey area where the difference of a month or two will change where you file your bankruptcy, you should ABSOLUTELY talk to a reputable bankruptcy attorney right away. Timing is important and you don’t want to wait the extra couple of months only to find out that you are in danger of losing  your car or home because you waited too long to file.

At Lawrence & Associates, we help people file bankruptcy every day. Further, we have the skill and expertise to help you decide which state’s bankruptcy rules would be better for you.

If you or someone you know need(s) to file bankruptcy and has recently moved in or out of Kentucky, contact Lawrence & Associates today!

Contact Us (859.371.5997) for a Free Consultation