Tampa Bankruptcy Attorneys Clark & Washington Explain the Residency Requirements for Filing in Florida

    TAMPA, FL, May 11, 2015 /24-7PressRelease/ -- You likely know that you are entitled to certain exemptions when filing for bankruptcy. All the states as well as the federal government have a list of exemptions in bankruptcy cases. The bankruptcy attorneys at the Tampa law firm, Clark & Washington, further add that your place of residence further influences the exemptions you may be entitled to when filing for bankruptcy.

You are entitled to the exemptions of the state where you make your permanent home. This is the place where you pay taxes and are registered to vote. If you have continuously lived in a state for two years before filing for bankruptcy, you may use that state's exemptions. You may also file for bankruptcy using federal exemptions if the state allows it.

If you have not lived in a state continuously for two years, you are not entitled to the exemptions under that state. You have to use the exemptions in the state where you previously resided prior to the two years preceding your bankruptcy filing.

For example, if you lived in California until 2012, then you moved to Florida and filed for bankruptcy in Florida in 2013, you are not entitled to the bankruptcy exemptions in the state of Florida. You can either wait another year to complete the two-year residency requirement before filing for the bankruptcy exemptions in your new state, or file for bankruptcy using the exemptions allowed in the state where you formerly resided.

When you file for bankruptcy, it is with the desire to get your financial life back in order. Let the experienced Tampa bankruptcy lawyers of Clark & Washington help you get back on your feet.

To learn more, go to http://www.cw13fl.com.

Established in 1983, Clark & Washington is now one of the leading bankruptcy filers in the Southeast. They have locations in Georgia, Florida and Tennessee. Clark & Washington specializes in personal chapter seven and 13 bankruptcy. They offer honest, helpful legal advice to those experiencing financial hardships.

For more information, visit http://www.cw13fl.com.

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